Determining the average payoff for each alternative and choosing the alternative with the highest average is the criterion called:
A)minimin.
B)maximin.
C)equally likely.
D)maximum likelihood.
E)Bayes decision rule.

Question

Quizplus · Accepted Answer

The equally likely criterion involves calculating the average payoff for each alternative and selecting the one with the highest average.

Determining the Average Payoff for Each Alternative and Choosing the Alternative