SCENARIO 20-2
The following payoff matrix is given in dollars.

Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 20-2,what is the best action using the maximax criterion?
A)Action A
B)Action B
C)Either Action A or Action B
D)It cannot be determined.

Question

SCENARIO 20-2
The following payoff matrix is given in dollars.

Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 20-2,what is the best action using the maximax criterion?
A)Action A 
B)Action B 
C)Either Action A or Action B 
D)It cannot be determined.

Quizplus · Accepted Answer

The Answer of SCENARIO 20-2
The following payoff matrix is given in dollars.

Suppose the probability of Event 1 is 0.5 and Event 2 is 0.5.
-Referring to Scenario 20-2,what is the best action using the maximax criterion?
A)Action A 
B)Action B 
C)Either Action A or Action B 
D)It cannot be determined.

SCENARIO 20-2 The Following Payoff Matrix Is Given in Dollars