Question: Reflecting on the decision - making models we've explored this week, consider a major decision you or your organization recently faced. Which of the models
Reflecting on the decisionmaking models we've explored this week, consider a major decision you or your organization recently faced. Which of the models Maximax Maximin, Criterion of Realism, or Minimax Regret would have been most appropriate for that scenario, and why? Additionally, how would you approach determining the states of nature and their associated probabilities for that decision, ensuring they are realistic and datadriven?
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