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Tom [10]
2 years ago
9

For a particular maximization problem, the payoff for the best decision alternative is $15.7 million while the payoff for one of

the other alternatives is $12.9 million. The regret associated with the alternate decision would be
Business
1 answer:
Soloha48 [4]2 years ago
7 0

Answer: $2.8million

Explanation:

The regret associated with the alternate decision would be calculated as the difference between the payoff for the best decision alternative which is $15.7 million and the payoff for one of the other alternatives which is $12.9 million. This will be:

= $15.7million - $12.9million

= $2.8million

The regret associated with the alternate decision is $2.8million.

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Ad hoc is a Latin word which means "for this" or "for this situation". In English, it is used to explain what has been formed for a special purpose without planning.

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