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Decision Analysis 1: Maximax, Maximin, Minimax Regret
For an example where payoffs are costs please see: https://youtu.be/ajkXzvVegBk ~~~~~~~~~~~ Decision Making Without Probabilities Part 1. This brief video explains the components of the Payoff Table and the systematic approaches involved in making decisions under uncertainty: 00:00 Intro 01:19 Maximax (Optimistic) 01: 50 Maximin (Pessimistic or ...
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