A decision d is said to be dominated by another decision D if, for every outcome, the
Question:
a. Explain why you would never choose a dominated decision using the maximin criterion, the maximax criterion, or the EMV criterion.
b. Are any of the decisions in the example in Simple Decision Problem.xlsx dominated by any others? What about in the SciTools example?
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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