Which of the following would a manager who wants to minimize her maximum regret choose?
A)the smallest maximum regret value
B)the smallest minimum regret value
C)the smallest difference maximum regret value and the minimum regret value
D)the greatest difference maximum regret value and the minimum regret value

Question

Quizplus · Accepted Answer

The manager aiming to minimize maximum regret would choose the option with the smallest maximum regret value. This approach ensures that, in the worst-case scenario, the regret (the difference between the outcome of the chosen action and the best possible outcome) is minimized.

Which of the Following Would a Manager Who Wants to Minimize