This regret matrix gives values for strategies S1, S2, and S3 for the Bigg Company and competitive strategies CA1, CA2, and CA3 for the Large Company.A minimax Bigg manager choosing S3 would have a greatest possible regret of 2.

Question

Quizplus · Accepted Answer

If a Bigg manager chooses strategy S3, the worst outcome they could get is a regret of 2, which is the smallest possible maximum regret compared to the other strategies. Therefore, the statement is true.

This Regret Matrix Gives Values for Strategies S1, S2, and S3