CEVAP:

This method is also known as Wald’s pessimism criterion. In here, the decision maker follows a pessimistic approach to solve the decision problem. The decision maker tries to minimize the damage since the overall approach is to look for the best among the worst payoff values. Decision maker creates the payoff table table either profit or cost based for each combination of (decision alternative, state of nature). Then, the decision maker chooses the minimum or maximum payoff value for each decision alternative, and then decision maker selects the decision alternative that gives the lowest or highest of these payoffs.