Mathematics · Decision Theory
Match the decision criteria in List I with their descriptions in List II and choose the correct option: List I (Decision criterion) a) Hurwicz criterion b) Maximin criterion c) Minimax criterion d) Laplace criterion List II (Decision outcomes) i. Minimizes the maximum possible payoff (or regret) ii. Maximizes the minimum possible payoff iii. Selects the alternative with the highest average outcome iv. Takes into account both the best and worst possible outcomes
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1a-i, b-iv, c-iii, d-ii
- 2a-ii, b-iv, c-iii, d-i
- 3a-iv, b-iii, c-ii, d-i
- 4a-iv, b-ii, c-i, d-iii✓
Correct answer
a-iv, b-ii, c-i, d-iii
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