A(n) is also called a minimax regret strategy.
A) opportunity-loss strategy
B) aggressive strategy
C) conservative strategy
D) average payoff strategy

Question

Quizplus · Accepted Answer

A minimax regret strategy is focused on minimizing the maximum possible regret in the event of an unfavorable outcome. It involves selecting a decision that minimizes the maximum regret that could be experienced. This is also known as the opportunity-loss strategy, which takes into account the opportunity cost of choosing one alternative over another. The other answer choices do not accurately describe a minimax regret strategy.

A(n) Is Also Called a Minimax Regret Strategy