James has calculated the possible profits from three different scenarios for the expansion of his recreation park,each for a different amount of advertising and promotion.He has chosen to implement the scenario that offers the greatest profit.James has decided to ________.
A)maximax
B)maximin
C)minimax
D)minimin

Question

Quizplus · Accepted Answer

Maximax decision making involves choosing the option that offers the highest possible payoff. In this case, James has calculated the profits from three different scenarios and has chosen the one that offers the greatest profit. This aligns with the maximax decision making approach, making choice A the best option.

James Has Calculated the Possible Profits from Three Different Scenarios