For a maximization problem,the conservative approach is often referred to as the
A)minimax approach.
B)maximin approach.
C)maximax approach.
D)minimin approach.

Question

Quizplus · Accepted Answer

The maximization problem requires finding the maximum value of the objective function subject to certain constraints. In the maximin approach, the decision maker chooses the alternative that maximizes the minimum possible outcome. This approach is conservative because it aims to minimize the potential loss or regret associated with the decision. Therefore, the best choice for a maximization problem is the maximin approach (Option B).

For a Maximization Problem,the Conservative Approach Is Often Referred to as the