Which decision-making approach under uncertainty uses a weighted average of the best and worst outcomes?
A) Maximin
B) Minimax Regret
C) Hurwicz Criterion
D) Laplace Criterion
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Which decision-making approach under uncertainty uses a weighted average of the best and worst outcomes?
A) Maximin
B) Minimax Regret
C) Hurwicz Criterion
D) Laplace Criterion