The minimax regret strategy would be:
A)buy
B)lease
C)rent
D)high
E)low

Question

Quizplus · Accepted Answer

The minimax regret strategy involves minimizing the maximum possible regret that could be experienced from a decision. In this case, the regret would be the difference between the outcome of the chosen strategy (buy, lease, or rent) and the best possible outcome (in terms of cost, for example). By choosing to lease, the maximum possible regret that could be experienced is the difference between the cost of leasing versus buying or renting, which is likely to be lower than the regret that could be experienced by choosing to buy or rent. Therefore, the best choice with the minimax regret strategy would be to lease.

The Minimax Regret Strategy Would Be