201510 BAD305-O Quantitative Methods for Bus
80 out of 100 points
The Maximax criterion is the maximum of ALL payoffs
The Maximin criterion is the maximum of the minimum payoffs?
Regret is the difference between the payoff of the best decision and all other decisions?
Regret Table = Opportunity Loss Table?
The Hurwicz criterion uses a coefficient of optimism factor to establish a point between
totally optimistic and totally pessimistic?
Decision making without probabilities comes down to the decision maker assessing his or her