Decision Analysis 4 (Tree): EVSI - Expected Value of Sample Information

*Construct Decision Tree with Sample (Imperfect) Information
*Calculate Expected Value of Sample Information
*Use EVSI to determine the best decision strategy
To prevent it from being boring, this video is a bit fast paced.
Please pause the video as often as necessary to ensure you capture all the details.
Other videos:
Solved Problem: • Decision Tree | Solved...
Decision Analysis 1: Maximax, Maximin, Minimax Regret
• Decision Analysis 1: M...
Decision Analysis 1.1 (Costs): Maximax, Maximin, Minimax Regret
• Decision Analysis 1.1 ...
Decision Analysis 2.1: Equally Likely (Laplace) and Realism (Hurwicz)
• Decision Analysis 1b: ...
Decision Analysis 2: EMV & EVPI - Expected Value & Perfect Information
• Decision Analysis 2: E...
Decision Analysis 3: Decision Trees 1
• Decision Analysis 3: D...
Decision Analysis 5: Posterior Probability Calculations
• Decision Analysis 5: P...
Sensitivity Analysis in Decision Analysis: • Decision Analysis - Se...

Пікірлер: 160

  • @ShinEKMG
    @ShinEKMG Жыл бұрын

    Powerpoint is crisp. Explanation very clear. Straight to the point. What a teacher!

  • @brianpistolwhip
    @brianpistolwhip7 жыл бұрын

    These videos are great! Right to the point, no fluff talk.

  • @kelvingeorge440
    @kelvingeorge4408 жыл бұрын

    You saved my day! I had no clue of evsi as i was confused like anything. This video and the posterior prob video helped me a lot. Thanks a lot!!

  • @YesmineDuff
    @YesmineDuff7 жыл бұрын

    Amazing videos thank you i studied for the whole Decision Theory Mid term in 2 days using only these videos and by doing a few exercises! good job they are concise and precise very clear and cover everything in the course! thanx again keep it up !

  • @adeyemiolasunkanmi9910
    @adeyemiolasunkanmi99104 жыл бұрын

    Thanks a lot Joshau you really made my day. I have been struggling with understanding the concept of decision tree in R programming, with this video you have done justice to it. God bless you

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    @kunmiification8 жыл бұрын

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    @ericlee99403 ай бұрын

    how a proper teacher should be. Speaks clearly, information is clear, every step is explained and all abbreviations are explained instead of plopped onto a useless powerpoint without any explanation. \

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    @Bianca-cc1nm7 жыл бұрын

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  • @joshemman

    @joshemman

    8 жыл бұрын

    +Ronald Farmer Will try. Glad it helps.

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  • @evidencenugget
    @evidencenugget5 жыл бұрын

    Thanks Joshua for this video. It has been a great help for all of us mahn!

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    @bestlife83147 жыл бұрын

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    @OriginalBeast8 жыл бұрын

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    @crumbums

    7 жыл бұрын

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    @Hannahjen3 жыл бұрын

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    @olubukolaolaniran8879 жыл бұрын

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  • @joshemman

    @joshemman

    9 жыл бұрын

    +Olubukola Olaniran You're welcome Bukola. I'm glad it helps.

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    @Dark73Flag6 жыл бұрын

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    @Runsheeg536333 ай бұрын

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    @joshemman

    2 ай бұрын

    Glad it helped

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    @graemeparker32276 жыл бұрын

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    @joshemman

    8 жыл бұрын

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    @staceyhill24179 жыл бұрын

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    @joshemman

    9 жыл бұрын

    Warita Dari Glad this made it clearer for you Warita. Cheers!

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    @michaelsheppard83525 жыл бұрын

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    2 жыл бұрын

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    @studyvlog0001 Жыл бұрын

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    @joshemman

    8 жыл бұрын

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    @dilakshavishva9849

    4 жыл бұрын

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    @alyzasasing6 жыл бұрын

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    @RajSharma-ff8iq6 жыл бұрын

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    @christineorot32262 жыл бұрын

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    @mucyojeanclaudebernard71768 жыл бұрын

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    @drsiiiiin4 ай бұрын

    The best explanation

  • @bakari007
    @bakari007 Жыл бұрын

    Thank's a lot ! Very clear helpful ! May I ask if it's possible for you to cover EVPI using SilverDecisions ! Thank you

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    @yasamineidi25308 жыл бұрын

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  • @antitseries
    @antitseries9 жыл бұрын

    Thank you for detail explanation

  • @joshemman

    @joshemman

    9 жыл бұрын

    MIBoilers You're welcome.

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    @Shantul55 ай бұрын

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    @AldosWorldTV8 жыл бұрын

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    @kalindudissanayake3897 жыл бұрын

    thanks a lot

  • @emmanuelmark8071
    @emmanuelmark80717 жыл бұрын

    hello mr joshua emmanuel, tanks so much for thıs vıdeos. ı have been able to undderstand 80% of decısıon analysıs. am so certaın when ı fınısh chapter 5, ı should be able to solve many questıons ıt.

  • @ishmamtasdik
    @ishmamtasdik4 ай бұрын

    Smooth like butter

  • @joshemman

    @joshemman

    4 ай бұрын

    Glad it was smooth for you.

  • @LittleForest945
    @LittleForest9456 жыл бұрын

    thanks joshua...

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    @chinalewis78622 жыл бұрын

    「あなたの動画はとても良いですし、メッセージがた

  • @phishfoodfella
    @phishfoodfella5 жыл бұрын

    what happens if the EVS of dont hire is greater than if to hire, would it still be calculated as 6.8268 or would it be negative EVSI, in which case the decision would be to not hire?

  • @globertdelfin7441
    @globertdelfin74414 жыл бұрын

    Very informative.Thank you.I can answer now my case study about here.😭😀

  • @lovemuch5129
    @lovemuch51297 жыл бұрын

    Can you make another video to explain how to perform graphical sensitivity to P(high) ?

  • @MinaSedhom
    @MinaSedhom7 жыл бұрын

    where i can find sensitivity analysis for decision making ?

  • @klintdavid9664
    @klintdavid96645 жыл бұрын

    Thank you so much sir! I really understand your example than my teacher 😂😂

  • @Akano1
    @Akano12 жыл бұрын

    Great video and thanks for the explanation. How can I get success value when failure probability and failure value is given?

  • @joshemman

    @joshemman

    2 жыл бұрын

    Can you clarify?

  • @somayabarakat8838
    @somayabarakat88383 жыл бұрын

    How would you calculate the equivalence of the consultant's fee? I don't think it's the actual fee, is it?

  • @judithifeadi7490
    @judithifeadi74905 жыл бұрын

    Please I need your help for this course. Do you private tutoring?

  • @DavidsonLoops
    @DavidsonLoops2 жыл бұрын

    Thanks Josh. i've had a look through the comments and no one has asked about the consultant's fee. In the real world you'd be given a currency for the fee, but "3.5" at the end seems like some proportional conversion was done. Can you explain that and how that can be applied to R/L?

  • @joshemman

    @joshemman

    2 жыл бұрын

    The idea is that all the values are in the same unit/currency. Whether you slap thousands or millions of dollars on those numbers, the concept holds true.