Decision Analysis 2: EMV & EVPI - Expected Value & Perfect Information

In this tutorial, we discuss Decision Making With Probabilities (Decision Making under Risk).
We calculate Expected Monetary Value (EMV) and Expected Value of Perfect Information (EVPI).
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• Decision Analysis 1b: ...
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• Decision Analysis 3: D...
Decision Analysis 5: EVSI - Expected Value of Sample Information
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[@TheAl217]

Thank you for this video. Can you please explain how you calculated the probabilities?

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sir plz tell me about the probability where 0.2 0.50 and 0.3 came from

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it will be given in the question

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Great explanation. I would like to know a practical example of the utility of the EVPI please.

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[@kwabenadavid7802]

Thank you very much for your video. But please how do you generate the probabilities of the state of nature

[@melaniewoods6240]

Thank you for this lesson. It will surely help with my homework, however, I am having trouble setting up a similar table for a product (i.e. cheese) that will have a loss if not sold in 1 months time. The demand and probabilities are given. How do I account for predicted losses? I hope my question makes sense.

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