The decision rule that selects the strategy with the highest utility payoff if the worst state of nature occurs is the
A. Minimize regret rule.
B. Maximize utility rule.
C. Maximin rule.
D. Maxi max rule.
Answer:C
The decision rule that selects the strategy with the highest utility payoff if the worst state of nature occurs is the
A. Minimize regret rule. B. Maximize utility rule. C. Maximin rule. D. Maxi max rule.