Every nonprobabilistic method has a weakness for decision making. Which of the following is incorrect regarding a method and its weakness? O a. The maximax method ignores potentially large losses. ob. The maximin method ignores potentially large payoffs. O c. The minimax regret method can lead to inconsistent decisions. O d. All of these are correct. Exhibit 14.1 The following questions are based on the information below. An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix bas been developed for the decision problem. A l'ayoti Matrix Economy Investment Decling Expand A 0 85 B 25 65 C 40 3 Bank 10 10 Payoffs Refer to Exhibit 14.1. What decision should be made according to the minimax regret decision rule? O a A Ob. . O d. Bank Although modeling provides valuable insight to decision makers, decision making remains a difficult task. Which of the following is not a primary cause for this difficulty discussed in the Decision Analysis chapter? O a. Conflicting values. o b. Models provide decisions for the decision maker. O c. Conflicting objectives. o d. Uncertainty regarding the future