Question Details

IS 466 Decision Support Systems

6. The decision maker who is neither optimistic nor pessimistic
might use which criterion?
a. minimax
b. maximin
c. maximax
d. the principle of insufficient reason
7. Consider the following payoff table in which D1 through D4
represent decisions, S1 through S4 represent states of nature, and
the values in the cells represent profits.
S1 S2 S3 S4
D1 -20 40 60 100
D2 30 120 60 -50
D3 30 30 40 40
D4 10 -60 80 70
The optimal decision under the maximax criterion is:
a. D1
b. D2
c. D3
d. D4
8. Consider the payoff table in problem 7. The optimal decision
under the minimax regret criterion is:
a. D1
b. D2
c. D3
d. D4
9. Consider the payoff table in problem 7. The optimal decision
under the maximin criterion is:
a. D1
b. D2
c. D3
d. D4
10. Consider the payoff table in problem 7. The optimal decision
under the principle of insufficient reason criterion is:
a. D1
b. D2
c. D3
d. D4



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