Suppose that a manager makes a decision using the maximin rule. In this case, the manager would:

Multiple Choice

select the decision that provides the maximum benefit while resulting in the lowest possible cost.

identify the worst outcome for each decision and make the decision associated with the maximum worst payoff.

None of the listed answers are correct.

select the decision that maximizes benefit while minimizing risk.

identify the best outcome for each decision and make the decision associated with the minimum best payoff.