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Decision Analysis 1

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Uploaded by on May 30, 2008

We go over some non-probabilistic decision rules. Maxi-max, MaxiMin, and Mini-Max (regret). We figure the regret matrix, or opportunity loss matrix.

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Education

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  • I passed every sem with lots of youtube and google.

  • I wish my professor made as much sense as you do! Thank you so much for posting this!

  • Very clear (except there was noise on the tape).

  • Thank you very much- very helpful- much more than my textbook! :)

  • Awesome. I have an exam tomorrow, and this has cleared up my concepts. I don't have to go through ton of pages and online articles. This really saved a lot of my time. Thank you !!

  • great, yet simple explanation. Nice refresher

  • Top video, helped loads, thnxs

  • Sticking with Small, the profit potential to loss potential ratio is quadruple that of the Large.

  • I would have gone for the Small factory... but my reasoning is different, I think.

    I subtract losses from an unfavorable market from the gains of a favorable one. Do nothing, the difference is 0. Large, the difference is 20. Small, the difference is 80.

    I also noted that going from small to large, the favorable market only doubles profits, while an unfavorable market risks nine-fold losses.

  • Excellent clip. I like it. Many thanks.

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