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MAXIMAX method
Maximax method is based upon 'extreme optimism' the decision maker chooses that particular strategy which corresponds to the maximum of the maximum pay off for every strategy
Illustration
By using the above illustration:
Max. profits row maxima
Product A
+8
Product B
+12
Product C
+16
Ranking by using the MAXIMAX method = CBA
The temperature at midnight was 4°F. Through 2 A.M. it had dropped 9°F. What was the temperature at 2 A.M.? If the temperature is only 4° and drops 9°, it goes below zero. It d
The frequency of oscillation of an object suspended on a spring depends on the stiffness k of the spring (called the spring constant) and the mass m of the object. If the spring is
assuming that the earth''s sphere with a radius of 6400 km.. find the distance along a 3 degree arc at the equator of the earth''s surface?
Computation of Covariance Ungrouped Data For a population consisting of paired ungrouped data points {X, Y} where,
5-4
Prove that the Poset has a unique least element Prove that if (A, ) has a least element, then (A,≤) has a unique least element. Ans: Let (A, ≤) be a poset. Suppose the po
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Example 1 Add 4x 4 + 3x 3 - x 2 + x + 6 and -7x 4 - 3x 3 + 8x 2 + 8x - 4 We write them one below the other as shown below.
There actually isn't a whole lot to do throughout this case. We'll find two solutions which will form a basic set of solutions and therefore our general solution will be as,
in 2000,nearly 18% of cars in north America were sliver. what percent of the cars sold were not sliver?
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