The ______ criterion is described as the least pessimistic method and the one with the lowest level of risk.
A)equally likely
B)maximin
C)maximax
D)minimax regret

Question

Quizplus · Accepted Answer

The maximin criterion is considered the least pessimistic method because it focuses on maximizing the minimum gain, thus ensuring that the worst-case scenario is as good as possible, which corresponds to a lower level of risk compared to other decision-making criteria.

The ______ Criterion Is Described as the Least Pessimistic Method