Which of the following is NOT a decision making criterion?
A)Maximizing the expected monetary value of an action.
B)Minimizing the expected opportunity loss of an action.
C)Minimizing expected profit under certainty.
D)Maximizing the return-to-risk ratio.

Question

Quizplus · Accepted Answer

Minimizing expected profit under certainty is not a decision making criterion because it does not take into account any uncertainty or risk in the decision-making process, which is a crucial aspect of decision making. The other three criteria listed involve considering the potential outcomes and risks associated with a decision in order to make the choice that will result in the most desirable outcome.

Which of the Following Is NOT a Decision Making Criterion