If he uses the minimax regret criterion, which alternative will he decide to select?
A)do nothing
B)expand
C)build new
D)either do nothing or expand
E)either expand or build new

Question

Quizplus · Accepted Answer

The minimax regret criterion involves choosing the alternative that minimizes the maximum regret. By calculating the regret for each alternative and comparing them, "build new" has the lowest maximum regret.

If He Uses the Minimax Regret Criterion, Which Alternative Will