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A、company is considering which one of three alternative courses of action, A,
B、and C, to take. The profit or loss from each choice depends on which one of four economic circumstances, I, II, III or IV, will apply. The possible profits and losses, in thousands of pounds, are given in the following pay-off table. Losses are shown as negative figures. 18 【论述题】 State which option would be selected using The maximax decision rule
A、company is considering which one of three alternative courses of action, A,
B、and C, to take. The profit or loss from each choice depends on which one of four economic circumstances, I, II, III or IV, will apply. The possible profits and losses, in thousands of pounds, are given in the following pay-off table. Losses are shown as negative figures. 18 【论述题】 State which option would be selected using The maximax decision rule
【参考答案及解析】
The best possible outcomes are as follows. A (circumstance III): 80 B (circumstance IV): 100 C (circumstance IV): 115 As 115 is the highest of these three figures, action C would be chosen using the maximax criterion.
The best possible outcomes are as follows. A (circumstance III): 80 B (circumstance IV): 100 C (circumstance IV): 115 As 115 is the highest of these three figures, action C would be chosen using the maximax criterion.