Question

13. If the maximum payoff of four
acts A1,A2,A3,A4 are
100,-300,400,150 respectively,
then the best decision according
to the maximax criteria is
A2
A1
A4
A3​

Answer 1

Answer:

A3

Step-by-step explanation:

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Answer 2

Answer:

According to the maximax criteria, the best decision is for act A3.

Step-by-step explanation:

The maximax criterion is the criterion used by the decision-maker who chooses the act which makes the possible maximum payoff.

Now, in the given question, the maximum payoffs for four acts are as follows:

A1 = 100, A2 = -300, A3 = 400, A4 = 150

So, in the given question the maximum payoff among the others is 400 which is the payoff of act A3.