Question: In handling uncertainty in decision modeling, what does the pessimistic approach do ? It assumes the worst possible outcome of some alternatives will occur and

In handling uncertainty in decision modeling, what does the pessimistic approach do?
It assumes the worst possible outcome of some alternatives will occur and then selects the best of them
It assumes the worst possible ourume of each alternative will occur and then selects the best of them
It assumes the worst possible outcome of one alternative will occur and then avoids it
It assumes the worst possible outcome of each alternative will occur and then selects the worst of them
In handling uncertainty in decision modeling, what does the pessimistic approach

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

As depicted in Fig. P2.27, a water tank consists of a cylinder topped by the frustum of a cone. Develop a well structured function in the high-level language or macro language of your choice to...

Q:

Getting past conflict resolution: A complexity view of conflict E:CO Issue Vol. 10 No. 1 2008 pp. 23-38 Academic Getting Past Conflict Resolution: A Complexity View of Conflict Leticia Andrade1,...

Q:

NASA/SP-2011-3422 Version 1.0 November 2011 NASA Risk Management Handbook NASA/SP-2011-3422 Version 1.0 NASA Risk Management Handbook National Aeronautics and Space Administration NASA Headquarters...

Q:

1: Describe and explain the terms climate sensitivity, fat tail, and low beta, and how they relate to climate change. 2: What are the estimated economic costs of global warming? Can we trust these...

Q:

Algorithms in Artificial Intelligence (or, the old name: Introduction to Algorithmic Decision Making) Part 1 Based on slides by David Sarne and Lirong Xia Course Tentative Schedule Introduction...

Q:

Question : Reading 9 :What does it mean to be risk averse or risk neutral? How important is it to evaluate risk and to evaluate how sensitive to risk any business, personal, or academic decision you...

Q:

National Business Institute of Australia 20 Clark Rd. Ivanhoe Victoria 3079 www.nbi.com.au 03 9499 7872 FNSORG601A Negotiate to achieve goals and manage disputes Student Workbook melbourne . sydney ....

Q:

Write a summary about Using decision trees to aid decision-making in nursing AUTHORS Dawn Dowding, PhD, RN, is senior lecturer, Hull-York Medical School; Carl Thompson, DPhil, RN, is senior research...

Q:

This paper should include 3-5 pages of content with an additional cover and reference page. This is a total of 5-7 pages. Please be aware that a properly formatted page will include approximately 350...

Q:

1)Reading 11: What is an expected monetary value? How does the EMV contrast to the monetary value? Why is it important for a decision maker to ignore irrelevant data? How sensitive is any decision to...

Q:

Summarize the following chapter in your words: (Basic elements of organizing) The Organizing Process organization.2 As you will see in this chapter, managing the basic frameworks that organizations...

Q:

How do firms reclassify gains and losses on the disposal of property, plant, and equipment? Why is this reclassification appropriate?

Q:

Selected pre-adjustment account balances and adjusting information of Sunset Cosmetics Inc. for the year ended December 31, 2011, are as follows: Retained Earnings, January 1, 2011 . . . . . . . . ....

Q:

Knowledge Check Activity 1 - Rocky Springs Beverage Company has two departments, Blending and Bottling. - The Bottling Department received 5 7 , 0 0 0 liters from the Blending Department. - During...

Q:

Make a statement of cashflows in good form. X X M Inbox 2,50 x M Logistics : * Course: ST: X|MyDrive- x B Group 2 Pex Course ID: Cth Moodle X C Get HomeX C Photos Screx Interview X + ....