Which of the following approaches used by decision makers under a situation of uncertainty is also known as the gambling approach?
A) The maximax approach
B) The synectics approach
C) The nominal grouping approach
D) The expected value approach
E) The certainty analysis approach

Question

Quizplus · Accepted Answer

The maximax approach is known as the gambling approach because it involves selecting the option with the maximum possible payoff, reflecting an optimistic and risk-taking attitude.

Which of the Following Approaches Used by Decision Makers Under