A maximin strategy will always choose the act or alternative that ________.
A)maximizes the expected monetary value
B)minimizes the maximum regret or opportunity loss
C)maximizes the potential payoff regardless of the state of nature
D)guarantees a payoff for any state of nature

Question

Quizplus · Accepted Answer

A maximin strategy focuses on maximizing the minimum payoff to ensure a guaranteed outcome regardless of the state of nature.

A Maximin Strategy Will Always Choose the Act or Alternative