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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). Other videos: EMV and EVPI in Excel: https://youtu.be/WsHCbEAhSzU Decision Analysis 1: Maximax, Maximin, Minimax Regret https://www.youtube.com/watch?v=NQ ...
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