maximax methodmaximax method is based upon


MAXIMAX method

Maximax method is based upon 'extreme optimism' the decision maker chooses that particular strategy which corresponds to the maximum of the maximum pay off for every strategy

Illustration

By using the above illustration:

 

 

Max. profits row maxima

Product A

+8

Product B

+12

Product C

+16

 

Ranking by using the MAXIMAX method = CBA

 

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Mathematics: maximax methodmaximax method is based upon
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