Using the ______ criterion you choose the alternative with the highest average payoff in the decision table.
A)maximax
B)equally likely
C)maximin
D)minimax regret

Question

Quizplus · Accepted Answer

The equally likely criterion, also known as the Laplace criterion, involves choosing the alternative with the highest average payoff, assuming that all states of nature are equally likely to occur.

Using the ______ Criterion You Choose the Alternative with the Highest