Decision Analysis 1: Maximax, Maximin, Minimax Regret

[@aarondean1999]

Best video on the internet, straight to the point as needed

[@hamzahallham8183]

agree af

[@sonopiccolamela]

Love your videos! Thank you for explaining all these better than my prof!

[@NicoleYacoubian]

My professor took 2 hours to explain all this. Thank you

[@ShivaKumar-yv8jb]

Thank you you sir helped for my exams

[@yinraizen]

Thank you so much for this video! This helped us a lot and this is much better and simpler explanation of this topic than what our silly prof did hahahaha

[@gamerish7778]

Very good video. Very helpful

[@mellomilky8621]

Very useful video

[@sabdo9596]

thank you very much

[@parthosarkar5270]

Loved it!

[@abegiants]

Thanks for simplifying! Well done! you explained it better than my professor at University

[@youngfella556]

and better than wikipedia

[@RA-nu8ue]

thank you so much

[@goodgirl140]

My professor spent an hour and a half class trying to explain this to us, and you just explained it in 5 minutes. THANK YOU!!

[@hideoutparadise6189]

no he didnt ?

[@lucasmadalala741]

😂😂😂😂,

[@davenithin7728]

Exactly.. short and sweet, never to forget.. 🎉🎉🎉

[@AB-pc7do]

I’m convinced profs are useless

[@Rheedwhan]

It's the curse of knowledge.

[@samwelltarly2939]

Thanks for changing the world one video at a time mr Emmanuel.

[@joshemman]

+Samwell Tarly Changing the world ...? Wow! Thanks for the comment.

[@danieljeffry976]

this man explained a 2-hour lecture in less than 5 mins. amazing!

[@vishn2011]

very well explained, some other videos made these look like rocket science

[@raymondalliance9569]

you literally helping me to pass my exams, thank you sir

[@qudar7541]

God bless you and your family and your grandchildren and your ancestors. You helped us

[@Brehhh982]

I have a question: I did exactly what you did but I get the wrong answers for the example from school (current situation); Alternative Full Capacity Below Full Capacity Enhance New System 100.000 50.000 Regular System New System 80.000 40.000 Keep Current System 60.000 60.000 Based on this situation the answers for minimaxregret are: -10 -20 -40 (answer from school), while mine answers are 10, 20, 40. I did exact what you did. This what I did Alternative Full Capacity Below Full Capacity Enhance New System 100.000 -100.00 = 0 60.000 - 50.000 = 10 10 Regular System New System 100.000 - 80.000 = 20.000 60.000 - 40.000 = 20 20 Keep Current System 100.000 - 60.000 = 40.000 60.000 - 60.000 = 0 40 how can their answer have a minus Can you please help me!

[@garimaale1540]

I think every teacher should know this regret formula. Thank you for making this video, I was struggling so much for this regret table.

[@joshemman]

Glad it was helpful!

[@Fridiegirly]

This has really helped me What took my lecturer about a month to explain you’ve explained in less than 5 minutes thank you😍

[@mailispoll2043]

Thanks! I couldn't find the formulae for regret in Kaplan book and just got it from your video!!! Thanks again!!!

[@marynamantemba5528]

Well explained. Thank you Sir

[@Izael1701]

I found your videos and I think you are a great instructor. You are easy to understand and you have some really good visuals. Keep up the great work!

[@joshemman]

Steve Thanks for your kind words Steve!

[@TheEssemm4]

Thank you so much for this video. Extremely helpful when your professors aren't!

[@bakhromkhalikulov7558]

Thank you so much Mr Emmanuel for this amazing video. When I tried to read Decision Analysis in my book, it was 45 pages long((( It takes abt 2 day if i read and note them in my notebook. I watched this 5 minutes video and no need to note in my notebook. I guess that I will remember this video and your voice forever and ever))) GREAT JOB, VERY HELPFUL

[@minuteexamprep675]

0:21 Maxima highest highest Maximin lowest highest 4:01 minimax regret ....table highest lowest

[@HealthyBodyHealthyLyf]

Wow!!! Still relevant in 2020, thanks alot bro🙏🏾

[@marisolalfaroharris3464]

Thank you Joshua. Your videos have been super helpful to me for grad school. After being out of school for almost 14 years none of this stuff made sense to me until I watched your tutorials. Keep up the good work and God bless.

[@SPD_Media]

this video is best and good.i understood decision analyis❤Thank you!

[@joshemman]

Nice to hear. Thanks for dropping a note.

[@navinduharishchandra8654]

this is really clear, understandable and simple !!! Thank You A Lot for this extraordinarily useful video, you earned a new subscriber, and Thanks again !

[@srihithbuddharaju5944]

Thank you so much Sir. You always make it easy for me 🙏 God bless you ☺️

[@joshemman]

All the best.

[@sebastianrosadomustafa9180]

The most straight to the point video I have ever seen. You're amazing man, thank you so much.

[@safiae6875]

This video is a godsent thank you so much you've helped me! Very well explained and very simple! :)

[@diljeetsingh8624]

Excellent video. To the point content. Acted as saviours when I saw it minutes before appearing for exam and faced question on Maximin. Keep up the good work.

[@parthsolanki4688]

Thanks for explaining this so easily.

[@kirbypenguin2112]

i understood more in 5 mins from you than 3 of my classes, thank you

[@abdimalikyasin9210]

What a wonderfull explanation❤ thank u pro. joshua

[@joshemman]

You are very welcome

[@bobalzano2296]

thank you for this video chief!!! I know I can tell you enough but, thank you lots, this video was short and helpful! gracias

[@ye7063]

Hi, love your videos. The only ones that are detailed and neat. I was wondering if you had videos explaining Decision Matrix presenting net profit/ loss. I thank you in advance. if you had a tutoring website. I would definitely pay for your tutorials1- perfect optimism2 - perfect pessimism3- optimism at a = x4- conservatism5- Minimization regret

[@margarina]

best video, thank you so much!

[@ntokozotmathe5704]

Thank you Sir.. I have tried the Text book for hours but could not understand the Minimax Regret rule..Within 4 minutes of watching your Teaching , I now understand!!!!

[@coliwemoyo3941]

hmmm bro youre the best within just 5minutes i got it all thanks so much simple and straight forward

[@FreeBornNoble]

this videos of decision analysis have helped me so much. thankyou

[@xmayrikax625]

You just explained my 3 weeks of lecture (which I don’t understand anything) in 5mins THANK YOU! ❤️

[@clickbaitpolice9792]

Fantastic video. understood fully. keep up the good work

[@ryz9444]

Thank you for doing this tutorial. I understand it better now. ❤️

[@AishwaryaChawla]

Who is watching this video in 2021 and still loving it?

[@abhishekasthana1911]

2024

[@gboluwagaadeola9942]

Thank you so much for this, very straightforward and easy to understand.

[@aashishilla911]

So Simple and Neat My sir Would take 20 Minutes to explain and half of the class wouldn't understand

[@fabianjohnjohn174]

nice tutorial, simple and understandable.

[@joshemman]

Glad it helped! Thanks.

[@RishiReddyitsrishiyourman]

Exam in 6 hours and this was my only hope! Hope restored.

[@mariablatter]

Very clear!! Thank you!!! :)

[@GomezganiDarvellMhango]

What is the tittle of the book you are using?

[@joshemman]

Here are two useful ones: Managerial Decision Modeling with Spreadsheets,Balakrishnan, Nagraj, Render, Barry,... Quantitative Methods for Business, Anderson, David, Sweeney,...

[@cherrielee144]

You are the best! Thank you

[@ronroberts8036]

I'm confused by the alternative of mutual funds. Mutual funds can be 100% stocks and simply follow an index, either a narrow index or a broad one. For the purposes of this video, are mutual funds referring to allocation funds (stocks and bonds)? If so, what allocation? I can see we have an ample showing of academia posting below, which I am not, so please forgive my ignorance.

[@rowaidaebrahem4331]

Perfect, Thank you so much

[@joshemman]

My pleasure.😀

[@neverboardofgaming]

Thank you!!!!! This was an amazing video, you're gonna help me ace this exam :)

[@조승희-r3q]

you are my savior:) thank you joshua!

[@Deborabs3]

Can you tell me the name of this method? e.g. AHPSort, FlowSort, ELECTRE...

[@klttens]

The best and simplest explanation! The only person I found who describes terminology and what rows are and what columns are! Thank you!

[@totonazar5383]

Love your videos ! can you please add more videos about decision making under uncertainty and decision trees ?

[@joshemman]

+toto nazar Glad you love them Toto

[@rohanmeher9432]

Joshua Emmanuel sir for solving regret we have to go horizontal or vertically????

[@moribundmurdoch]

I normally don't like slideshow teaching, but this video was quite interesting.

[@edwinma6236]

Can you explain why for Minimax regret, we do not take (15+18 =) 33 as the value instead. Why is 15 ignored, it could be relevant as to encapsulate two of the three types of economy. I understand in this example, mutual funds would still be optimal, but say if the mutual funds growing economy opportunity loss was 20, my question would be valid to possibly change the decision?

[@joshemman]

Only one of the states (economies) could occur, so you have to choose the Max (18).

[@donjr3270]

I thank KZbin, for KZbinrs like you.

[@sierrajohn7967]

why do i need 2 hr fucking classes when YOU can teach me in 5 frickin minutes

[@gabikoc3235]

thank you a lot sir my profesor has not have the ability of the teaching ı am sorry about that. I listened him for like 3 hours and ı do not get it at all but in this video it just take it for 5 minutes to get the idea

[@rutendomatopodzi9223]

Thank you .This was very helpful, got an exam 2moro

[@luisbraga9315]

Don't why people in scientific papers can't put it like that!! Thanks

[@sangeetha1294]

kudos to your explanation!!... highly understandable!!!!

[@Izhaar_Raiye]

Believe me you are Better then my profesooriiiii 😄. . .A German Prof.

[@babyduck282]

THXXXX! you explain this nice and clearly!!

[@gabr_ielcob]

I have question! What if bonds and mutual funds have the same blue in minimax regret for example: Bonds = 30 stocks = 20 mutual funds = 30 Which one will I choose?

[@joshemman]

With minimax regret, you should choose the alternative that has the smallest maximum regret -in your case, stocks. If instead your maximum regrets are: Bonds = 30 Stocks = 40 Mutual Funds = 30 then your decision will be to choose either “Bonds or Mutual Funds”; you are indifferent between the two.

[@aartijarwani]

Very lucid explanation! Thanks:))

[@jovenrombines1505]

For bonds if stable we have 45 but in growing 40 only?

[@geraldineeruotor4362]

Thank you so much

[@aarthyimai6634]

Found what I needed.☺️☺️

[@kelycanovalencia1737]

Thank you so much! It was very very useful :)

[@velvetthai1347]

Thank you so much Joshua, it is really helpful!

[@SogMosee]

Sure but when should I choose an optimistic, pessimistic, or minmax regret approach? How should make decisions about things at this higher more abstract level? Should I decide based on risk assessment?

[@joshemman]

The approach is decided by the feeling/personality of the decision maker.

[@terrorusa2400]

Bro just came clutch for my test in 2024 💯

[@sheldonblackwood2117]

I need some assistance with an Assignment due and its on this topic.

[@SkillzWorld]

Great video, straight to the point and very helpful

[@joshemman]

Thanks. Glad you like it.

[@peggiefei8841]

Thanks for making this simple for me to understand.

[@digitalmarketingandanalyti4819]

Thank you so much for the amazing video!

[@AnshulSharma-pk7uz]

Simplified Learning... Thanks a ton.

[@ainatiyaazmi7435]

Very helpful. Keep on making videos.

[@oyindoubraogboka5512]

Spectacular

[@Fatima-rn2bw]

Thanx for excellent explanation it helped me and bless yoy

[@MindBeliever]

You don't know your value.... "Teacher"

[@siddherthabiswas4442]

Under MAXIMIN rule, Which option to choose if two options have same worst payoff which happens to be the best payoff among all payoffs

[@joshemman]

Choose either A or B.

[@yveskiersten]

Kung wala ka pare hindi ako papasa sa Quan-T kaya salamat sayo pareng Joshua!

[@agtc6576]

Thanks men

[@phamchung1667]

Some segments in the video are stamped not adjacent to each other

[@Matthew-ec3oi]

thank you joshua. Very nice my brudda

[@SamKhan-gm5zl]

You're awesome! Subscribed and liked! Do you have any PDF's of worked examples? THANKS!

[@stephenphan2761]

Sound good lesson. Thank you. Question is How should I return to my boss for advice him? Request him to buy ALL (bond,stock, mutual fund) after using 3 approaches. Please anyone help me to understand the point.

[@isaacomwansa7609]

Some of these professors r just that by name...

[@Chubbza5]

Thank you! Professor didn't explain it, book coudn't explain it... this was just right.

[@amadoumakhtarbadiane3565]

God bless you African brother!

[@seventdedan7966]

Tangina ganun pala yun! Brother thank you so much, because you saved my small amount of brain cells. Mwah😘 I love you!