Value of imperfect information.

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    nellyp
    Participant
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    Dear Mr. Tutor,
    Could you help with a question of calculation the value of imperfect information? (with perfect is clear, thanks).
    In the study books I did not find a good example. On the other hand, in your sample with a Decision Tree you show a variant with a market research which is not completely accurate.(=imperfect?)
    So, whether my supposition is correct or not that comparison of 7.17 m (decision made without research) and 7.63 m will give us required Value of imperfect information?

    Many thanks for your reply in advance!


    Avatar of johnmoffat
    John Moffat
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    Your supposition is correct.
    (I will be surprised however if she does ask imperfect information because she has not yet asked a question on perfect information :-) )


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    nellyp
    Participant
    • Topics: 2
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    Well, but, as all the tutors say we have to be ready for everything! :)
    You never know what will come to Examiner’s mind…:)
    Thanks again! This site and your presence here is very helpful!


    Avatar of johnmoffat
    John Moffat
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    You are welcome :-)

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