Decision Theory Operation Research | Decision Theory under Certainty | Numerical Questions | Hindi скачать в хорошем качестве

Decision Theory Operation Research | Decision Theory under Certainty | Numerical Questions | Hindi

Decision Theory Operation Research | Decision Theory under Certainty | Numerical Questions | Hindi "Decision theory under certainty" refers to a situation in decision making where the decision-maker has complete knowledge about the consequences of each possible action, meaning there is no uncertainty about the outcome and the result of each choice is known with absolute certainty; essentially, it's a scenario where all information needed to make a decision is readily available and the best option is easily identifiable. Key points about decision theory under certainty: Perfect information: The decision-maker has full access to all relevant information about each alternative and its corresponding outcome. No risk or uncertainty: Since the consequences are known with certainty, there is no element of chance or unknown probabilities involved. Simple decision process: Choosing the best option under certainty is relatively straightforward as the decision-maker simply selects the action with the most desirable outcome. Example: A company decides to invest in a new project after conducting thorough market research and analysis, showing a guaranteed positive return on investment. Contrast with other decision-making environments: Decision making under risk: In this situation, the possible outcomes of each action are known, but their probabilities are not certain. Decision making under uncertainty: This is the most complex scenario where the decision-maker has limited information and the potential outcomes and their probabilities are unknown. All Chapter of Operation Research:    • {In Hindi} All Topics of Operation Research   I hope this video will help you understand the concept of Decision Theory Thanks JOLLY Coaching ******************************************************************** Our Social Media Handles Twitter:   / coachingjolly   Instagram:- https://www.instagram.com/jollycoachi... Facebook :-   / jolly.coaching.5   Link for Economics Channel:-    / @economicsbyjollycoaching1329   Link for all Other Videos: MACROECONOMICS (Chapter Wise) :-    • Macroeconomics | Class 12 | Chapter-Wise C...   Indian Economic Development (Chapter wise topics) :-    • Indian Economic Development | Class 12 | C...   Link for 12th Accountancy {Complete Course}    • Accounting for Partnership Firm Class 12 |...   Link for Business Studies 1st Part with written notes:-    • 12th Business Studies | 12th Business Stud...