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Author Question: A pessimistic manager will typically follow a minimin choice. Indicate whether the statement is ... (Read 18 times)

moongchi

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on: Jul 6, 2018
A pessimistic manager will typically follow a minimin choice.
 
  Indicate whether the statement is true or false.

Question 2

An optimistic manager will typically follow a maximax choice.
 
  Indicate whether the statement is true or false.


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Jbrasil

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Reply #1 on: Jul 6, 2018
Answer to Question 1

Answer: FALSE
Explanation: When pessimistic, a manager will look to maximize the minimum possible payoff that is given by a maximin choice.

Answer to Question 2

Answer: TRUE
Explanation: When optimistic, a manager will look to maximize the maximum possible payoff that is given by a maximax choice.


moongchi

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Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it

kjohnson

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Reply 3 on: Yesterday
:D TYSM

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