What course of action would you recommend using?
a. Maximax
b. Maximin
c. Laplace
d. Minimax regret
Options
Motel
Approved
Motel
Rejected
Renew $ 500,000 $4,000,000
Relocate 5,000,000 100,000
What course of action would you recommend using?
a. Maximax
b. Maximin
c. Laplace
d. Minimax regret
Options
Motel
Approved
Motel
Rejected
Renew $ 500,000 $4,000,000
Relocate 5,000,000 100,000