indifference points
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point where total profit or cost of the alternatives is equal
Maximax
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optimistic / maximum of the maximums
Tactical decisions
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high consequences, current time, buying a car, "what do you need in the
future"
Break even point
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profit = 0
Maximin
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pessimistic / maximum of the minimums
Strategic decisions
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major investments over a long time, buying a house "where am i going to
operate down the road"
EMV
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point where total profit or cost of the alternatives is equal
Maximax
Give this one a try later!
optimistic / maximum of the maximums
Tactical decisions
, Give this one a try later!
high consequences, current time, buying a car, "what do you need in the
future"
Break even point
Give this one a try later!
profit = 0
Maximin
Give this one a try later!
pessimistic / maximum of the minimums
Strategic decisions
Give this one a try later!
major investments over a long time, buying a house "where am i going to
operate down the road"
EMV
