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

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  • Опубликовано: 28 авг 2024
  • *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...

Комментарии • 160

  • @ShinEKMG
    @ShinEKMG Год назад +7

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

  • @calebwinegardner6244
    @calebwinegardner6244 Год назад +3

    LETS GO JOSHUA! ABSOLUTE UNIT, giving us what we need

  • @abrarauhin463
    @abrarauhin463 2 года назад +2

    I didn’t understand my professor’s lecture and not even when a friend tutored me. Thank you for explaining this in such a calm and easy way

  • @ericlee9940
    @ericlee9940 4 месяца назад +2

    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.
    \

  • @Runsheeg53633
    @Runsheeg53633 3 месяца назад +1

    Be blessed bro. This is one of the most helpful videos I have ever watched.

  • @brianpistolwhip
    @brianpistolwhip 7 лет назад +8

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

  • @melkolamare7195
    @melkolamare7195 3 года назад +1

    Thank you so muchhhhhh; this is wonderful; wasted 2 hours reading and trying to understand this and you nailed it in just 6 mins

  • @olubukolaolaniran887
    @olubukolaolaniran887 9 лет назад +8

    this is explicit enough for me to write my exam. Thank you Joshua

    • @joshemman
      @joshemman  9 лет назад +1

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

  • @kelvingeorge440
    @kelvingeorge440 9 лет назад +7

    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!!

  • @OriginalBeast
    @OriginalBeast 8 лет назад +83

    Christ, thanks! Sad when you need youtube vids to explain what a prof you pay too much money for can't. A+ vid

    • @crumbums
      @crumbums 7 лет назад +4

      True story .. same situation here

  • @ronaldfarmer7205
    @ronaldfarmer7205 8 лет назад +27

    Thank you a lot man keep putting out these videos really helping me in graduate school ! I love how you teach !

    • @joshemman
      @joshemman  8 лет назад +5

      +Ronald Farmer
      Will try. Glad it helps.

  • @MsThe1girl
    @MsThe1girl 8 лет назад

    YOU JUST SAVED ME,I CAN NOW PASS MY TEST!!! YOU ARE THE BEST! THANK YOU SO SO SO MUCH!!!!!!!!!!

  • @Hannahjen
    @Hannahjen 3 года назад +3

    You are more helpful than my analytics professor! Thank you for your tutorial. It is really helpful for my online class!💗

  • @Myeolsalgaeganbeam
    @Myeolsalgaeganbeam 2 года назад +1

    Love from Korea Thank you so much you saved my life

  • @michaelsheppard8352
    @michaelsheppard8352 5 лет назад +1

    Joshua, I got a stats final tomorrow and this is so clutch. Thank you very much for these videos, sir

  • @Punk3rGirl
    @Punk3rGirl 8 лет назад +7

    Thanks for these videos! They are more helpful than my lecture videos. :)

  • @sadmanhassan8874
    @sadmanhassan8874 3 года назад +2

    Only if you knew how helpful these videos are man !! Keep it up ❤️

  • @Mzzcurlyhead
    @Mzzcurlyhead 4 года назад +4

    Perfect balance of enough information to be worthwhile / the good kind of mentally challenging, but explained simply and easy to follow.

  • @adeyemiolasunkanmi9910
    @adeyemiolasunkanmi9910 4 года назад +1

    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

  • @jessicatenorio14
    @jessicatenorio14 8 лет назад +1

    Your videos helped me pass my exams, thank you so much for posting these!

  • @sallyli6134
    @sallyli6134 6 лет назад

    You saved my life for my exam tomorrow! You're the best!!

  • @YesmineDuff
    @YesmineDuff 7 лет назад +2

    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 !

  • @kunmiification
    @kunmiification 8 лет назад +2

    brilliant! thanks Joshua, I was getting confused with the Managing Tech and Business Risks Book. Thanks for the Heads-up and info. I appreciate it.

  • @Bianca-cc1nm
    @Bianca-cc1nm 7 лет назад

    Thanks a lot! Currently doing my MBA in Strategic Management. The MBA is taught in Spanish though. Your Engish videos help A LOT!

  • @lanaaranki1971
    @lanaaranki1971 5 лет назад

    It took our dr 8 lectures 1:30m each and I didn’t understand anything , your AWSOME 🤟🏽

  • @yca4309
    @yca4309 Год назад +1

    u just saved my grades

  • @studyvlog0001
    @studyvlog0001 Год назад

    Thankyou so much sir. Your videos all are short and simple with all informations. It's super useful .

  • @SuperReagan100
    @SuperReagan100 8 лет назад +7

    you are a lifesaver, my friend

    • @joshemman
      @joshemman  8 лет назад

      Glad it helps Reagan.

    • @dilakshavishva9849
      @dilakshavishva9849 4 года назад

      That may be true for me also, but think for a moment ,that our life depends on those bullshit numbers , 😏😏😏

  • @joelabong1289
    @joelabong1289 8 лет назад +4

    explicit, the explanation was just so good

  • @kkawesome1234
    @kkawesome1234 7 лет назад +2

    These are some great videos! You deserve way more subscribers!

  • @staceyhill2417
    @staceyhill2417 9 лет назад +6

    You made it alot clearer, thank you

    • @joshemman
      @joshemman  9 лет назад

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

  • @MrsDanitaMoses
    @MrsDanitaMoses 7 лет назад +1

    This video was highly effective, I am going to do well on my test! Thanks for sharing!

  • @ishmamtasdik
    @ishmamtasdik 5 месяцев назад +1

    Smooth like butter

    • @joshemman
      @joshemman  5 месяцев назад +1

      Glad it was smooth for you.

  • @dr.khalidahmadkhan1726
    @dr.khalidahmadkhan1726 6 лет назад

    Very well explained - good use of graphics and clear explanation!!

  • @evidencenugget
    @evidencenugget 5 лет назад

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

  • @Dark73Flag
    @Dark73Flag 6 лет назад

    Think you Doc, there is no words enough to thank you ❤️

  • @erdemhabes1452
    @erdemhabes1452 8 лет назад +2

    Thanks for the video!! It helps much more than i thought..

  • @AldosWorldTV
    @AldosWorldTV 8 лет назад +25

    best thing since sliced bread

  • @bakari007
    @bakari007 Год назад +1

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

  • @idontreallylikeyoutube
    @idontreallylikeyoutube 4 года назад

    This was so good, I can't wait to check out your other videos.

  • @elisabeth-9582
    @elisabeth-9582 5 лет назад

    This is helping me understand and ace my modeling for BI class! Thank you!

  • @alexcole3847
    @alexcole3847 7 лет назад +2

    This is so helpful! Thanks for doing these!

  • @drsiiiiin
    @drsiiiiin 4 месяца назад

    The best explanation

  • @MrsDanitaMoses
    @MrsDanitaMoses 7 лет назад

    This video was highly effective; I am going to do well on my test! Thank you for sharing!

  • @tapiwamuputire6396
    @tapiwamuputire6396 Год назад +1

    Wow, so helpful. Everyone like and follow...........................

  • @bestlife8314
    @bestlife8314 7 лет назад

    Thank you for all your videos, you make learning so exciting and easy..you're a master!

  • @christineorot3226
    @christineorot3226 2 года назад

    Thank you Sir for this very clear and concise explanation.

  • @fikriasyrafi8121
    @fikriasyrafi8121 5 лет назад

    Again. Thank you so much! Great video!

  • @agustinasteven1677
    @agustinasteven1677 6 лет назад

    Joshua you are the best sir, thanks a lot,

  • @cyprianmashego2288
    @cyprianmashego2288 7 лет назад

    Man, you are a life saver!

  • @harshchovatiya-gh7hn
    @harshchovatiya-gh7hn 6 лет назад

    Man ,You are Osummmm. Love your accent. Slowly and understandable each word. Ok le me first subscribe

  • @graemeparker3227
    @graemeparker3227 6 лет назад

    Great videos. Such concise and clear explanations.

  • @josephinbee9602
    @josephinbee9602 7 лет назад

    Thank you sooo much for the videos, you save my life

  • @1VBURSEY
    @1VBURSEY 7 лет назад

    Thank you Mr. Emmanuel.

  • @snmostensible
    @snmostensible 6 лет назад

    Emmanul you are the best!

  • @swethainty7667
    @swethainty7667 6 лет назад

    Thank you for explaining it clearly.

  • @chinalewis7862
    @chinalewis7862 2 года назад

    「あなたの動画はとても良いですし、メッセージがた

  • @zhufengyi5252
    @zhufengyi5252 6 лет назад

    Thanksss so much for providing this excellent video!

  • @joyceestelle3035
    @joyceestelle3035 5 лет назад

    your videos have helped me so much. thank you!

  • @irmileeuys6397
    @irmileeuys6397 4 года назад

    Thank you so much! You explained it really good!!

  • @Shantul5
    @Shantul5 5 месяцев назад +1

    Very nice 🙂

  • @patricianicolemontilla9411
    @patricianicolemontilla9411 4 года назад

    thank you so much for this video . it really helped me a lot to understand this concept

  • @karenheng2425
    @karenheng2425 7 лет назад

    Thank you! Your explanations are awesome

  • @selinanjaya5472
    @selinanjaya5472 3 года назад

    Very great video! Thankyou so much for helping us :)

  • @damanelletaylor3348
    @damanelletaylor3348 5 лет назад

    Thank you sooo much for this!!! Keep up the good work!!❤

  • @mohoque4478
    @mohoque4478 2 года назад

    This video is amazing. Thank you.

  • @rarabolang7742
    @rarabolang7742 4 года назад

    It's easy to understand. Thank u so much

  • @vallsocool
    @vallsocool 7 лет назад

    so helpful ! great explanation

  • @m4u939
    @m4u939 6 лет назад

    You are the best! Keep it up!!

  • @pujilestariradjiman1929
    @pujilestariradjiman1929 3 года назад

    Thankyou, you help me a lot

  • @alyzasasing
    @alyzasasing 6 лет назад

    thanks for the tutorial. it was well explained

  • @emmanuelmark8071
    @emmanuelmark8071 7 лет назад

    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.

  • @khanyisanimlaba3026
    @khanyisanimlaba3026 9 лет назад

    you a the best man, thank you.

  • @RajSharma-ff8iq
    @RajSharma-ff8iq 6 лет назад

    thanks man... nice video. very helpful.

  • @antitseries
    @antitseries 9 лет назад

    Thank you for detail explanation

    • @joshemman
      @joshemman  9 лет назад

      MIBoilers
      You're welcome.

  • @piyatharamagampura5468
    @piyatharamagampura5468 Год назад

    Great ..!❤️

  • @aakashtiwari2472
    @aakashtiwari2472 5 лет назад

    Excellent stuff!

  • @globertdelfin7441
    @globertdelfin7441 4 года назад

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

  • @sulaimanabdulwahabsulaiman7885
    @sulaimanabdulwahabsulaiman7885 7 лет назад

    You are really good.

  • @mucyojeanclaudebernard7176
    @mucyojeanclaudebernard7176 8 лет назад

    Thank you, God Bless.

  • @Akano1
    @Akano1 2 года назад

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

  • @winistineyours792
    @winistineyours792 7 лет назад

    u r excellent... bro. Thank you

  • @ahahn928
    @ahahn928 6 лет назад

    Subscribed. You're awesome.

  • @ammazainuddin1910
    @ammazainuddin1910 6 лет назад

    thankyou so much.. god bless you 😇😇

  • @klintdavid9664
    @klintdavid9664 5 лет назад

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

  • @MrBuckethead911
    @MrBuckethead911 6 лет назад

    You are a legend!

  • @DavidsonLoops
    @DavidsonLoops 2 года назад

    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 года назад

      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.

  • @evelynpeng11
    @evelynpeng11 5 лет назад

    Saved my life!!

  • @AILab0001
    @AILab0001 2 года назад

    Please, What to we do if we don’t have the probability of having a positive or negative repport? We have conditional probabilities ( Our prior probabilities are just probability of growth and probability of decline)

    • @joshemman
      @joshemman  2 года назад

      You might have to calculate them. See if this helps: ruclips.net/video/FpKiHpYnY_I/видео.html

  • @somayabarakat8838
    @somayabarakat8838 3 года назад

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

  • @cassandramolitoris5506
    @cassandramolitoris5506 6 лет назад

    Very Helpful!

  • @andrewkarikari2813
    @andrewkarikari2813 8 лет назад

    This is great stuff

  • @sharamoniqueroluna1349
    @sharamoniqueroluna1349 5 лет назад

    thank you so much!!

  • @yasamineidi2530
    @yasamineidi2530 8 лет назад

    thank you so much.it was hepful

  • @lindohlily
    @lindohlily 4 года назад

    This is so helpful..but please tell me, can EVSI be negative?

    • @joshemman
      @joshemman  4 года назад +1

      Yes. EVSI can be negative. It is possible to do worse with a consultant than without.

    • @lindohlily
      @lindohlily 4 года назад

      @@joshemman briiliant! Thanks for the speedy response.Much appreciated!

  • @phishfoodfella
    @phishfoodfella 5 лет назад

    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?

  • @LittleForest945
    @LittleForest945 6 лет назад

    thanks joshua...

  • @davidlerech384
    @davidlerech384 7 лет назад

    Hi Joshua,
    First great videos!!!
    Second, I would like to ask you something on the video above.
    Assume we hired the consultant and he recommended negative report,
    Now we have another consultant who say he can recommend about better decision,
    What is the EVPI?
    Would it be changed if the consultant recommended positive report?
    Thanks in advance!!!

    • @joshemman
      @joshemman  7 лет назад

      I'm sorry, I would need to see the full scenario to better answer this. However, EVPI does not depend on consultant recommendations.

    • @davidlerech384
      @davidlerech384 7 лет назад

      Assume we hired the consultant named Adam and he recommended negative report,
      Now we have another consultant Rob who say he can recommend better decision for the negative report that Adam recommended (like he has inside information) ,
      What is the EVPI for the negative report recomend?
      Would it be changed (the EVPI) if the consultant Adam recommended positive report?
      Hope it's more clear

  • @lovemuch5129
    @lovemuch5129 7 лет назад

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

  • @nitinkumar3378
    @nitinkumar3378 5 лет назад

    Excellent..