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Another one where there standard deviation and expected value? How can I determine which one is preferably by risk averse, they go for maxmin?
Overall I feel like I know my stuff well but when results are out its always a fail? Well, I was rushing for August case study. And just went back today. Used Kaplan. BBP exam kit!
Im not quite sure what you mean about standard deviation and expected value – they dont always go in the same question as maximin
Maximin likes to choose the best of the worst potential outcomes – so is risk averse.
Expected value decision maker is risk-neutral.
Please post the question with the model answer and I can explain further if needed
Thanks
Cath
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