Word Count : 245

---

The Maximin or Minimax Principle is a decision-making approach used in situations of uncertainty, particularly when a decision-maker faces risk without knowing the probabilities of different outcomes. This principle is a conservative strategy that aims to minimize potential losses or maximize the minimum gain. In the Maximin approach, the decision-maker identifies the minimum payoff for each alternative or strategy and then _______ _________ __________ ______ _____ __________ _______ ________ ____ _________ ____.
___ _______ __________ _______ _______ ________ _________.
_________ _________ _____ __________ _____ ____ _________ __________ _____.
_____ ______ _________ __________ ______ _____ _________ _______ _______ _______.
__________ ____ ______ ________ ___ ______ __________ ___ __________.
___ ___ _____ ____ _________ _________ _______.
_______ _____ __________ ___ _________ _________ ____ _____ ___ ______ _____ _______.
__________ ___ _______ _________ _______ ____ _____ ___ _____ ___ ___.
_______ ________ ____ ____ ____ _____ ___ ___ _______ __________ __________ _________.
_______ __________ _____ _______ ________ _______.
____ ______ _______ _______ ________ __________ ________ __________.
____ _________ ____ ____ _____.
__________ ___ __________ __________ _________ ___ __________ ____.
_______ ____ ___ ________ __________ __________ ___ __________ ____ ____ ______.
__________ ____ ______ _______ ___ __________ _____ ________ ______ ________.
_______ _____ ____ __________ _________ _________.
_____ __________ __________ ____ ________ ____ _______ __________ __________.
_________ ________ __________ __________ ___ ______ ___ ________ __________ ___ __________ __________.
__________ _____ __________ ______ _______ ________ ________ ____ ________ ___.
______ ______ ___ _____ ______ _________.
________ _________ ________ _____ _____.
Get Full Answer on WhatsApp