Which of the following statements about the decision theory is true? Select one:

Question

Which of the following statements about the decision theory is true? Select one: a. The Laplace criterion will reach the same decision as the Minimax Regret criterion when the payoff table contains expenses instead of revenues. b. If a new alternative is added to a payoff table and the maximax criterion is applied again, the new decision must either remain with the original maximax alternative or the new alternative. c. If the payoff table contains expenses instead of revenues, then the pessimistic criterion is Minimin. d. By definition, the maximax and maximin criteria cannot result in the selection of a common alternative in decision making under uncertainty. Which of the following statements about the decision theory is true? Which of the following statements about the decision theory is true? Select one: a. The Laplace criterion will reach the same decision as the Minimax Regret criterion when the payoff table contains expenses instead of revenues. b. If a new alternative is added to a payoff table and the maximax criterion is applied again, the new decision must either remain with the original maximax alternative or the new alternative. c. If the payoff table contains expenses instead of revenues, then the pessimistic criterion is Minimin. d. By definition, the maximax and maximin criteria cannot result in the selection of a common alternative in decision making under uncertainty. Select one: a. The Laplace criterion will reach the same decision as the Minimax Regret criterion when the payoff table contains expenses instead of revenues. b. If a new alternative is added to a payoff table and the maximax criterion is applied again, the new decision must either remain with the original maximax alternative or the new alternative. c. If the payoff table contains expenses instead of revenues, then the pessimistic criterion is Minimin. d. By definition, the maximax and maximin criteria cannot result in the selection of a common alternative in decision making under uncertainty. a. The Laplace criterion will reach the same decision as the Minimax Regret criterion when the payoff table contains expenses instead of revenues. b. If a new alternative is added to a payoff table and the maximax criterion is applied again, the new decision must either remain with the original maximax alternative or the new alternative. c. If the payoff table contains expenses instead of revenues, then the pessimistic criterion is Minimin. d. By definition, the maximax and maximin criteria cannot result in the selection of a common alternative in decision making under uncertainty.

Explanation / Answer

b. If a new alternative is added to a payoff table and the maximax criterion is applied again, the new decision must either remain with the original maximax alternative or the new alternative.

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