Maximin , Maximax , Minimax Regret criteria in Decision Theory. Statistics.Part 3. скачать в хорошем качестве

Maximin , Maximax , Minimax Regret criteria in Decision Theory. Statistics.Part 3.

For CMA inter group 2 Management Accounting . paper 12. Business Statistics for B.COM (Hons) , BBA , BCOM, Bsc statistics In this video ,i explained the concept of decision making using various concepts. When we use Maximin concept, first select minimum values from each action and select overall maximum value from these act maximum values. When we use Maximax concept , first select maximum values from each action and select overall maximum values from these act maximum values. For using regret concept , first payoff values are converted to regret values . From regret table identify the maximum regret values from each action and select the overall minimum regret. Mr. Kasturi Srinivas Sekhar is a post graduate in Mathematics and was associated as visiting faculty member with many professional bodies and chapters like NIRC of ICAI and ICAI Warangal Chapters, GITAM University Hyderabad for more than 34 years. He is currently associated as a senior faculty member with ICAI-Hyderabad, CMA - Hyderabad Chapters teaching Mathematics & Statistics, Operations Research and OPM. Over these years of long career he has produced many rank holders across India and benefitted lakhs of students.