A matrix that for each state of nature and strategy, shows the difference between strategy’s payoff and the best strategy’s payoff is called _________.
A. maximin matrix
B. minimax regret matrix
C. payoff matrix
D. expected profit matrix
Answer:B
A matrix that for each state of nature and strategy, shows the difference between strategy’s payoff and the best strategy’s payoff is called _________.
A. maximin matrix B. minimax regret matrix C. payoff matrix D. expected profit matrix