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Decision Theory: EVPI and Decision Trees by Jose Miguel is a document available to read on EtoBox.
What is Decision Theory: EVPI and Decision Trees about?
This document discusses decision making using decision trees and expected values. It presents a case study involving a textile company deciding whether to manufacture a new product itself or outsource production. It shows the expected profits and probabilities for different demand scenarios and calculates the expected value of perfect information and expected value of sample information to help evaluate the options.
- Author
- Jose Miguel
- Language
- EN