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In the kaplan kit there is a question asking which option is the correct definition of the maximin rule
The 2 options I was confused by are:
B) Under this rule, the decision maker selects the alternativw which maximises on the minimum pay off available
D) Under this rule, the decision maker selects the alernative which offers the most attractive worst outcome, I.e the alternative which maximises the minimum profit.
Acc. to the book the answer is B.
But why is D wrong?
In the very next question, they define maximin as option D. So possibly the book might have a mistake..
If you have copied the question correctly, then B and D are both saying the same thing (although D actually says it better), and are therefore both correct 🙂
(I don’t have the Kaplan Kit, so I am assuming that you have copied it correctly)
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