Which of the following strategies is also called a minimax regret strategy?

A) conservative strategy
B) opportunity loss strategy
C) average payoff strategy
D) aggressive strategy

Minimax Regret Strategy

Minimax Regret Strategy is a decision-making approach that aims to minimize the maximum possible regret from choosing an unfavorable option, considering the worst-case scenario.

Conservative Strategy

A risk management strategy that opts for investments or decisions that are expected to yield lower variability and risk.

Opportunity Loss Strategy

An approach in decision making that focuses on minimizing the potential loss for not choosing the best alternative.