What is the maximin reasoning in decision-making?

testJDec

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Mathematics
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1.
FLASHCARD QUESTION
Front
Back
Maximin reasoning is a strategy used in decision-making that focuses on maximizing the minimum gain. It involves choosing the option that has the best worst-case scenario.
2.
FLASHCARD QUESTION
Front
What does the term 'choose' imply in decision-making?
Back
The term 'choose' implies selecting an option from a set of alternatives based on certain criteria or preferences.
3.
FLASHCARD QUESTION
Front
What is a decision table?
Back
A decision table is a tool used to represent and analyze different decision options and their possible outcomes in a structured format.
4.
FLASHCARD QUESTION
Front
What does 'True or False' mean in a question?
Back
'True or False' questions require the respondent to determine the validity of a statement, indicating whether it is correct (True) or incorrect (False).
5.
FLASHCARD QUESTION
Front
What does the option 'Maybe' indicate in a decision context?
Back
'Maybe' indicates uncertainty or indecision regarding a choice or outcome.
6.
FLASHCARD QUESTION
Front
What is the significance of the answer 'A1' in a multiple-choice question?
Back
The answer 'A1' signifies that option A1 is the correct or selected choice among the provided alternatives.
7.
FLASHCARD QUESTION
Front
What does the term 'options' refer to in decision-making?
Back
'Options' refer to the different choices or alternatives available for selection in a decision-making process.
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