A manager who desires to minimize his or her maximim "regret" will opt for a ________ choice.
A)maximum
B)multimax
C)minimin
D)minimax

Question

Quizplus · Accepted Answer

Minimax is a decision-making approach that involves minimizing the maximum possible regret or loss. It is a conservative approach that assumes the worst-case scenario and selects the option that minimizes the maximum regret which might arise from choosing the wrong decision. Therefore, a manager who desires to minimize his or her maximum regret will opt for a minimax choice.

A Manager Who Desires to Minimize His or Her Maximim