James has calculated the possible profits from three different scenarios for the expansion of his restaurant, each for a different amount of advertising and promotion. He has chosen to implement the scenario that offers the greatest profit. James has decided to ________.
A) maximax
B) maximin
C) minimax
D) minimin

Question

Quizplus · Accepted Answer

Maximax strategy involves choosing the option with the maximum possible payoff, which is what James is doing by selecting the scenario with the greatest profit.

James Has Calculated the Possible Profits from Three Different Scenarios