Walkthrough Expected Monetary Value EMV Calculation in Decision Analysis

#analytics #simulation #riskanalysis #decisiontree #decisionmaking #decisionanalysis
This video covers two exercises. Exercise (1): we calculate EMV and discuss how much we should pay for the "perfect" information. Exercise (2): How to read a complex multistage decision tree.

💻 Decision Analysis videos
➡ Intro to Decision Analysis:    • Decision Analysis Introduction  
➡ Single Stage Decision Rules:    • Single Stage Decision Rules in Decisi...  
➡ Walkthrough Expected Monetary Value EMV Calculation:    • Walkthrough Expected Monetary Value E...  
➡ Using Palisade's PrecisionTree:    • Using PrecisionTree for Decision Anal...  
➡ Multistage Decision Problems:    • Multistage Decision Problems in Decis...  
➡ Walkthrough Multistage Decision Problems using PrecisionTree:    • Walkthrough Multistage Decision Probl...  
➡ EVSI (Expected Value of Sample Information) and EVPI (Expected Value of Perfect Information):    • Understanding EVSI and EVPI in Decisi...  

💻 Other Business Analytics topics
➡ Introduction to Business Statistics:    • Intro to Business Statistics  
➡ Linear Regression:    • Everything about Linear Regression  
➡ Business Simulation (using @Risk):    • Business Simulations  
➡ Decision Analysis (using PrecisionTree):    • Decision Analysis  
➡ Linear Programming (using Lingo):    • Linear Programming  
➡ XLSTAT tutorials:    • XLSTAT Tutorials for Business Statistics