Choosing the decision with the maximum possible payoff
A)is the maximax rule.
B)ignores possible bad outcomes.
C)is a guide for decision making under uncertainty.
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

The maximax rule involves selecting the decision with the maximum possible payoff, which inherently ignores possible bad outcomes and is a strategy used for decision making under uncertainty. Thus, all of the statements are correct in describing aspects of the maximax rule.

Choosing the Decision with the Maximum Possible Payoff