Asked by Changhao Zhang on May 27, 2024
Verified
The maximax criterion of decision making requires that all decision alternatives have an equal probability of occurrence.
Maximax Criterion
A decision-making strategy that seeks to maximize the maximum possible payoff, focusing on the most optimistic scenario.
- Learn about the multifaceted environments and criteria relevant to decision-making, spanning certainty, risk, and uncertainty.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
False
Explanation :
The maximax criterion does not require equal probabilities of occurrence for all decision alternatives. Instead, it focuses on selecting the decision alternative with the highest possible outcome when faced with optimistic scenarios.
Learning Objectives
- Learn about the multifaceted environments and criteria relevant to decision-making, spanning certainty, risk, and uncertainty.
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