Which of the following is true?
A)Maximax and maximin always lead to the same decision.
B)Maximax and maximin always lead to different decisions.
C)Minimax regret and maximin are essentially the same.
D)Maximax and maximin may or may not lead to the same decision.

Question

Quizplus · Accepted Answer

Maximax and maximin may or may not lead to the same decision depending on the specific circumstances and values assigned to the outcomes. While maximax looks to maximize the best possible outcome, maximin looks to minimize the worst possible outcome. Therefore, in some cases, the same outcome may be considered the best possible and worst possible, leading to the same decision for both methods, while in other cases, they may lead to different decisions.

Which of the Following Is True