A maximax strategy will always choose the act or alternative that Multiple Choice guarantees a payoff for any state of nature maximizes the expected monetary value minimizes the maximum regret or opportunity loss maximizes the potential payoff regardless of uncertainty

MATLAB: An Introduction with Applications
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A maximax strategy will always choose the act or alternative that
Multiple Choice
guarantees a payoff for any state of nature
maximizes the expected monetary value
minimizes the maximum regret or opportunity loss
maximizes the potential payoff regardless of uncertainty
Transcribed Image Text:A maximax strategy will always choose the act or alternative that Multiple Choice guarantees a payoff for any state of nature maximizes the expected monetary value minimizes the maximum regret or opportunity loss maximizes the potential payoff regardless of uncertainty
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