Which of the methods for decision making best protects the decision maker from undesirable results?
A) the optimistic approach
B) the conservative approach
C) minimum regret
D) minimax regret

Question

Quizplus · Accepted Answer

The conservative approach, also known as the maximin approach, focuses on minimizing the potential for the worst-case scenario, thus protecting the decision maker from undesirable results.

Which of the Methods for Decision Making Best Protects the Decision