In Hurwicz criterion,the coefficient α is often called the ______.
A)coefficient of realism
B)coefficient of pessimism
C)coefficient of payoff
D)coefficient of regret

Question

Quizplus · Accepted Answer

The coefficient α in the Hurwicz criterion is often called the coefficient of realism because it represents a weighted average of the best and worst outcomes, reflecting a balance between optimism and pessimism.

In Hurwicz Criterion,the Coefficient α Is Often Called the ______