Question

A pessimistic decision making Criterion is----​

Answer 1

Answer:

a pessimistic decision making criterion that maximizes the minimum outcome. It is the best of the worst possible outcomes. Minimax Regret. A decision criterion that minimizes the maximum opportunity loss.

Step-by-step explanation:

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Answer 2

Answer:

Decision criteria are principles, guidelines or requirements that are used to make a decision. This can include detailed specifications and scoring systems such as a decision matrix. Alternatively, a decision criterion can be a rule of thumb designed for flexibility.

Step-by-step explanation:

The Hurwicz criterion is arguably one of the most widely used rules in decision-making under uncertainty. It allows the decision maker to simultaneously take into account the best and the worst possible outcomes, by articulating a "coefficient of optimism" that determines the emphasis on the best end.

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