Making decisions using Minimax Regret, EOL, Laplace & Hurwicz
Автор: Eugyn Teaches
Загружено: 2025-08-22
Просмотров: 184
Описание:
How to determine the best decision alternative using a payoff table and the decision rules (Minimax Regret, Expected Opportunity Loss, Laplace and Hurwicz). #education #decisionmaking #acca #cpa
Time stamps:
0:00 My YouTube Channel description
0:33 The main video introduction
0:46 Payoff table displayed and briefly explained
1:20 Decision using the Minimax regret decision rule
3:53 Decision using the Expected opportunity loss (EOL)
5:12 Decision using the Laplace criterion
6:35 Decision using the Hurwicz criterion
8:19 Video outro
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