Thank you Steve for the mention. ACCA Student Study Resources are continuously adding videos to the channel to help our students and Steve is a regular face and voice on many of the PM videos :)
@SteveWillisACCA2 жыл бұрын
Very welcome!
@JamesWrightACCA3 жыл бұрын
Thank you for the mention Steve and a really helpful video here! 😁 Great to hear your find my ACCA materials helpful and keep up the good work! Would be great to collaborate on future projects sometime 😁 All the best! J
@SteveWillisACCA3 жыл бұрын
Absolutely! Would be fun :)
@JamesWrightACCA3 жыл бұрын
@@SteveWillisACCA Ping me a message on LinkedIn anytime and I'll give you a shout next time I'm in Prague too ha! 👍 Have a great day! 👍
@mubashirsherdil33822 жыл бұрын
Best teacher out there. Steve Willis!
@SteveWillisACCA2 жыл бұрын
Thanks! And good luck tomorrow :)
@afua34102 жыл бұрын
Thankyou so much- you explained this so nice and clearly!!!
@SteveWillisACCA2 жыл бұрын
Glad it helped!
@jasbirsinghkhalsa30993 жыл бұрын
Thank you very much for uploading this near to exams.... :)
@SteveWillisACCA3 жыл бұрын
You're very welcome--good luck next week
@shuaibmahdi1673 жыл бұрын
Thank you Steve; Really Appreciated.
@SteveWillisACCA3 жыл бұрын
My pleasure
@masitah133 жыл бұрын
Thank you so much sir!! I finally understand this topic
@SteveWillisACCA3 жыл бұрын
Excellent! Good luck next week.
@umarkeldibekov69245 ай бұрын
You perfect Steve, thank you
@SteveWillisACCA5 ай бұрын
Glad it helped!
@leesheridan56853 жыл бұрын
Useful.
@SteveWillisACCA3 жыл бұрын
Glad it was helpful!
@MikeHampton.2 жыл бұрын
Hi Steve, I have a Q on this. Ive just seen the mark scheme for this question, it is as follows: (a) Pay off table Calculation of profit 1 Calculation of loss 1 ‘Demand’ label 0·5 ‘Supply’ label 0·5 Weather column 0·5 Supply column - 350,000 1·5 Supply column - 280,000 1·5 Supply column - 200,000 1·5 --- 8 In your answer, there is no “weather” column, would you need to add an extra column between columns C and D to show which demand figure relates to which weather condition?
@MikeHampton.2 жыл бұрын
Very helpful video by the way.
@SteveWillisACCA2 жыл бұрын
Glad it was helpful! Good point on the marking guide and always good to check those out. I made a column for demand instead of weather, it looks like there was another 0.5 marks for making a corresponding 'weather' column.
@SteveWillisACCA11 ай бұрын
🎯To get access to all my videos with NO ADS, and to join my WhatsApp Group, click Here: videos.stevewillistraining.com See you in the WhatsApp group!🎯
@fredstar.S.A.2 жыл бұрын
thank you so much, but what about the value of imperfect information, how can we calculate it
@SteveWillisACCA2 жыл бұрын
Hi there--it's in the video at 13:57
@gracebarwe14743 жыл бұрын
Very helpful Steve, i am not ure if its not too late for me though exam is day after tomorrow
@SteveWillisACCA3 жыл бұрын
Fingers crossed
@razlaedappatta-1776 Жыл бұрын
Sir. Value of imperfect information is not in our chapters..?
@SteveWillisACCA Жыл бұрын
This is the same thing as Expected Values--profit at each possibly outcome * Probability of each outcome.
@abdullahimohamudadendaakir22332 жыл бұрын
Please whare is the link that i can get PDF
@SteveWillisACCA2 жыл бұрын
hi there--the link is in the description of the video. It's also right here :) drive.google.com/file/d/1pv9NZNdasRe_cBQATXRFt930QUJOkBOQ/view
@wardasana2 жыл бұрын
i have a confusion in calculation of perfect information why we choose 1000,000*0.30 why we not choose 1000,000*0.45 or 1000,000*.25
@SteveWillisACCA2 жыл бұрын
It's like this: "if the weather is bad, I will produce 200 and take a profit of 1000K. (that's the highest profit when weather is bad). 30% chance of this. If the weather is medium, i will choose to produce 280, that give me the highest profit, and a 45% chance of this..." Does this help?
@wardasana2 жыл бұрын
@@SteveWillisACCA will we always choose that option in perfect informaton where demand and production are equal ?
@wardasana2 жыл бұрын
@@SteveWillisACCA we will not see which option had more probability or which option make more profit ? because if consider that then in poor weather production 200 and demand 280 with 45% chances gives us more profit than other options 630k
@SteveWillisACCA2 жыл бұрын
For the value of perfect info question, you need to ask yourself: (1) if weather is poor, what is the BEST profit? (2) if weather is medium, what is the BEST profit? (3) if weather is good, what is the BEST profit? After you have these 3 figures, you say (1) what is the probability of POOR? (2) what is probability of Medium? (3) what is probability of GOOD? Then, you do a weighted average profit with those figures.
@wardasana2 жыл бұрын
@@SteveWillisACCA ohh now I got it , Thank you so much for answering and clearing all my confusions mostly teachers donot reply because they have no time
@damilolaafolabi50543 жыл бұрын
pls Steve in the last video you did, your VC was based on the lower between capacity and demand , but here it is based purely on production. Why the seeming discrepancy?
@SteveWillisACCA3 жыл бұрын
Great question! It's like a bakery in this question, they make the bread in the morning but have to throw away the unsold bread at the end of the day. So if they produce 100 but sell 10, sales are 10 units, production 100 units
@damilolaafolabi50543 жыл бұрын
@@SteveWillisACCA thank very much. I understand. Your videos are easy to understand
@damilolaafolabi50543 жыл бұрын
@@SteveWillisACCA so in the exam, how would we know which one to use?
@SteveWillisACCA3 жыл бұрын
You'll have to read the scenario and interpret the situation. The delivery van story didn't say anything about unsold good being disposed of. Cement didn't say anything about lost goodwill.