This regret matrix gives values for strategies S1, S2, and S3 for the Bigg Company and competitive strategies CA1, CA2, and CA3 for the Large Company. A minimax Bigg manager would choose S2 because it has the smallest maximum regret of 1
CA1 CA2 CA3
S1 5 5 3
S2 9 6 1
S3 10 2 5
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: A minimax manager would choose S1, the strategy with the smallest maximum regret of 5.
Business
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