If she uses the minimax regret criterion, what size outlet will she decide to lease?
A)small
B)Medium
C)large
D)either small or Medium
E)either medium or large

Question

Quizplus · Accepted Answer

The minimax regret criterion involves choosing the option that minimizes the maximum regret. By comparing the potential regrets for each size outlet, the medium outlet typically offers a balance that minimizes the worst-case regret compared to the other options.

If She Uses the Minimax Regret Criterion, What Size Outlet