Author Question: The ___________ approach evaluates each decision alternative in terms of the best payoff that can ... (Read 89 times)

jenna1 · **on:** Jun 24, 2018

The ___________ approach evaluates each decision alternative in terms of the best payoff that can occur.
a. conservative
b. optimistic
c. maximin regret
d. expected value

Question 2

Lines showing the alternatives from decision nodes and the outcomes from chance nodes are called
a. weights.
b. payoffs.
c. diagonals.
d. branches.

thall411 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

b
RATIONALE: The optimistic approach evaluates each decision alternative in terms of the best payoff that can occur. The decision alternative that is recommended is the one that provides the best possible payoff.

Answer to Question 2

d
RATIONALE: Lines showing the alternatives from decision nodes and the outcomes from chance nodes are called branches.