Maximin Rule – NBC Institute

QT – Nov 2015 – L1 – Q7a – Probability

Explain five key decision-making terms including Maximax rule and Expected Monetary Value.

Question

Explain the following terms in decision making:
(i) Maximax Rule
(ii) Maximin Rule
(iii) Expected Monetary Value
(iv) Payoff Table
(v) Expected Value of Perfect Information

Answer

Find Related Questions by Tags, levels, etc.

Tags: Decision Making, Expected Monetary Value, Expected Value of Perfect Information, Maximax Rule, Maximin Rule, Payoff table
Level: Level 1

Topic: Probability
Series: NOV 2015

Question Tag: Maximin Rule

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

QT – Nov 2015 – L1 – Q7a – Probability

Explain five key decision-making terms including Maximax rule and Expected Monetary Value.

QT – Nov 2015 – L1 – Q7a – Probability

Explain five key decision-making terms including Maximax rule and Expected Monetary Value.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Maximin Rule

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

QT – Nov 2015 – L1 – Q7a – Probability

Explain five key decision-making terms including Maximax rule and Expected Monetary Value.

You're reporting an error for "QT – Nov 2015 – L1 – Q7a – Probability"

QT – Nov 2015 – L1 – Q7a – Probability

Explain five key decision-making terms including Maximax rule and Expected Monetary Value.

You're reporting an error for "QT – Nov 2015 – L1 – Q7a – Probability"

Our offerings

Contact Info

Customer

Get In Touch

admin