12 The minimum EOL Expected Opportunity Losswill always res

12. The minimum EOL ( Expected Opportunity Loss)will always result in the same decision as:

a) The maximum criterion

b) The minimax regret criterion

c) The minimax EMV criterion

d) The equally likely criterion

Solution

correct option is C

The minimax EMV criterion

Explanation

By the definition of EOL.

Minimum EOL measures the expected cost of uncertainty.