Single Stage Decision Rules in Decision Analysis

#analytics #simulation #riskanalysis #decisiontree #decisionmaking #decisionanalysis This video considers the simplest decision analysis where only one decision is needed. Rules including maximax, maximin, minimax, expected monetary value EMV, and expected opportunity loss EOL, are introduced. See the walkthrough video on EMV here: https://youtu.be/ZVjMHSFHsfc 💻 Decision Analysis videos ➡ Intro to Decision Analysis: https://youtu.be/LaLfnMTHbtY ➡ Single Stage Decision Rules: https://youtu.be/0DAcQoUffJo ➡ Walkthrough Expected Monetary Value EMV Calculation: https://youtu.be/ZVjMHSFHsfc ➡ Using Palisade's PrecisionTree: https://youtu.be/TckySTf_qKM ➡ Multistage Decision Problems: https://youtu.be/_EFlyFMv2xM ➡ Walkthrough Multistage Decision Problems using PrecisionTree: https://youtu.be/HoF0imQJd5Q ➡ EVSI (Expected Value of Sample Information) and EVPI (Expected Value of Perfect Information): https://youtu.be/d1lysX5D4Rc 💻 Other Business Analytics topics ➡ Introduction to Business Statistics: https://youtube.com/playlist?list=PLVfkLzKIXfrFjZMKNGPswQMXCZmScnRb6 ➡ Linear Regression: https://youtube.com/playlist?list=PLVfkLzKIXfrGgGRi5lZeZSsOSiwaZjafd ➡ Business Simulation (using @Risk): https://www.youtube.com/playlist?list=PLVfkLzKIXfrFOcr-pw8DD-S4H7idNT2Rb ➡ Decision Analysis (using PrecisionTree): https://youtube.com/playlist?list=PLVfkLzKIXfrFXJqVsFgryneIn8eTGDFc3 ➡ Linear Programming (using Lingo): https://youtube.com/playlist?list=PLVfkLzKIXfrHd2P9TXn-IVbgROhCWLIDz ➡ XLSTAT tutorials: https://youtube.com/playlist?list=PLVfkLzKIXfrENQu8c5QrsjcuS8JUuaww4