Decision Analysis 1b: Equally Likely (Laplace) and Realism (Hurwicz)

This brief video explains how to make decision using the following decision making (under uncertainty) criteria:
• Equally Likely (Laplace)
• Realism (Hurwicz)

Other videos:

Decision Analysis 1: Maximax, Maximin, Minimax Regret

Decision Analysis 3: EMV & EVPI - Expected Value & Perfect Information

Decision Analysis 4: Decision Trees 1

Decision Analysis 5: EVSI - Expected Value of Sample Information

[Ramonerdna]

I LOVE YOU SO MUCH!!! You clarified in less than 5 minutes what my lecture couldnt do in an hour

[mirceads]

Just spent a full day in class trying to understand this, and you made it so much easier! Thanks a million for your videos!

[Extreme-Sam]

Not gonna lie, you clarified what my lecturer couldn't do for me in 5 mins
Thanks so much.

[erowookuabor]

Thank you. You can imagine that I skipped the Indian dude to get to you. Came here coz of Hurwicz and your explanation was very clear

[MrBuckethead]

Super simple, easy and well explained. You speak with the right tempo and tone and what you're saying is very easy to follow. Great videos, thank you!

[abdulfatahalfandi]

You have no idea how much your videos helped me! thank you very much, Joshua!!

[mustafaemirzval]

your pronunciations are so fluent and understandable. you are awesome thank you so much

[ObamaWearsSupreme]

Thank you so much Joshua! It really helped me out and you gave by far the best explanations out of all videos that I watched.
Have a nice day!

[melissachunn]

Thank You so much! I am in operations management and have a test due tonight and your videos just saved me!!

[ronaldfarmer]

Wanted to thank you again your lessons have really helped me in my Quality Management Class and Risk Management appreciate you ! I'm in graduate school been a lot of refreshing my statistics and math

[goodgirl]

Already said it on your last video, but I love you!! Thank you so much for the help!!

[seidabdela]

Very Thank you, you make very simple, but when i learn in class it was very complex

[TheKattdaddy]

thank you king, now hopefully I pass my midterm!!

[nakyejweeron]

Your such a very good teacher.... Mr. Joshua.

[nickyd]

Made it so easy I’m worried now 😂. Thank you so much

[caglasudealtun]

Thanks to you for helpful information but ı don't understand that how we are choose that a= :0.3 . can you explain please ?

[adlaideiria]

Thank you for this 😅 you made these calculations really understandable 😅

[ChrisDoll]

Thank you, Joshua. Very helpful information and clearly presented.

[lizturner]

Great video, easy to understand and very helpful. thank you :)

[lavernenewton]

Thank you so much your information and tables are very, very helpful and your voice is easy to listen to as well