In using the criterion of realism (Hurwicz criterion), the coefficient of realism (a) a. is the probability

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In using the criterion of realism (Hurwicz criterion), the coefficient of realism (a)

a. is the probability of a good state of nature.

b. describes the degree of optimism of the decision maker.

c. describes the degree of pessimism of the decision maker.

d. is usually less than zero.

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Quantitative Analysis For Management

ISBN: 213168

12th Edition

Authors: Barry Render ,Ralph M. Stair ,Michael E. Hanna

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