Payoff Table: Expected Value and Perfect Information for Costs

This brief video shows how to make decision based on Expected Value & Expected Value of Perfect Information given a Payoff Table consisting of costs.

[kdeliass]

You seriously have an amazing straight to the point teaching style!

[cacrisc]

You are the Angel that God has sent me to pass my exam!!! after 5 times failures I thought I would never pass it !!!

[yogirlashley]

Your explanations are so clear and straight to the point. YOU ARE THE BEST…

[lsw]

As a Stats Professor, I can say that your videos are amazing! Great work

[alial-ansari]

I salute you sir, you have saved a lot of hard studying for us !!! God bless you sir!!!

[churchilraj]

You are no 1 teacher, i was struggled last 1week for CMA preparation, now i came to understand it. excellent teaching....

[phoenixkool]

Can I ask, in your previous video you stated that the EVwPI is calculated by taking the best values from each state of natures and taking their sum from the equation. However, in this video, you are using the lowest values from each state of nature. Do both these methods lead to the same answer? Or is there a mistake somewhere.... Thanks!

[ajteed]

Oh my god Ive been struggling with this for so long. You made it so clear lol Ive been overthinking this so much. Thank you very much sir :)

[paulgutierrez]

Great video man, I´m starting my MBA and this helps a lot, I´ll suscribe to your channel

[HelloThere-loqi]

Hello sir, I want to ask a question again, what s the difference between a perfect forecast and the expected value of perfect information, this is from questions in my textbook
(e) How much is a perfect forecast of the demand worth?
(g)what is the expected value of perfect information in this situation?

i tho that question (g) is asking about EVPI but what about question (e) i need your help sir T.T

[gennelson]

Best explanation, clear, understood.Thank YOU!!!!

[Kevinkunai]

Thank you for your efforts.
Great full preparation ❤

[salbil]

Please, is expected utility the same as value for perfect information? Thank you.I appreciate your reply.

[a.j]

hi, can you pleaaseee do a video on constructing the risk profile of the expected values of decisions? I dont understand how to do it. Really need your help because your videos explain everything so easily.

[reubenarticulo]

How do you calculate probability of each state of nature?

[mahamg]

You are really a Great teacher ☺️
Love from Pakistan ❤

[shauryasharma]

You are brilliant Sir. Thank you so much!

[eunicemugisha]

You're absolute angel that help me pass

[mittamoa]

thank you! shortly and precisely explained!

[matalynsantini]

You are awesome. Your videos help so much!