The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome

The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome

The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome
The four criteria that will be used for decision making under complete uncertainty are

Maximax
Maximin
Minimax regret
Expected monetary value

Maximax criteria will look best favor situation and it is more suitable for an optimistic decision
maker. Here, the decision maker choose the best decision for higher profit
Maximin criteria will look worst situation and it is more suitable for a pessimistic decision
maker. Here, the decision maker choose the least worst decision for minimizing his loss
Minimax is based on the opportunity loss. It will tell us what will happen if we select the other
states of nature and its outcome