In handling uncertainty in decision modeling, what does the pessimistic approach do?
A) It assumes the worst possible outcome of one alternative will occur and then avoids it.
B) It assumes the worst possible outcome of some alternatives will occur and then selects the best of them.
C) It assumes the worst possible outcome of each alternative will occur and then selects the worst of them.
D) It assumes the worst possible outcome of each alternative will occur and then selects the best of them.

Question

Quizplus · Accepted Answer

The pessimistic approach, often associated with the maximin criterion in decision making under uncertainty, assumes the worst possible outcome for each alternative and then selects the alternative with the best (least bad) of these worst outcomes. This approach is used when a decision maker wants to ensure the most favorable outcome among the least favorable scenarios.

In Handling Uncertainty in Decision Modeling, What Does the Pessimistic