Question

Which decision environment is associated with the maximax rule? Select one: a. Decision making under certainty b. Decision making under risk c. Decision making under uncertainty d. Decision making under normality

Answer 1

Answer:

c. Decision making under uncertainty

Explanation:

The optimistic decision making rule under conditions of uncertainty. It states that the decision maker should select the course of action whose best gain is better than the best gain of all other courses of action possible in given circumstances.