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Please could you post some information on the new topic, value of perfect and imperfect information. Is this new topic important? If so, how many marks can it come up for in the exam?
To be asked to value perfect information is reasonable likely – I cannot imagine it being more than about 5 marks, but it would be one part of a larger expected value type question.
To be asked to value imperfect information is much less likely – especially since she has not yet asked about perfect information.What Vipin and sids have written is all very true.
If it does get asked it will be calculation rather than written (but only one fairly small part of the question).
By the way – it is not a ‘new’ topic. It has been in the syllabus for the last three exams, it is just that she has not asked it yet.
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Addressed to Vipin and John:
Hi guys,
I guess we can expect a problem with Decision tree and perfect or imperfect information in it (as in problems 34&35 from Kaplan). How do you think? According to the Ann Irons reports she argued that Decision trees will be also tested. But starting from her first exam in December 2010 as examiner I did not see problems on the decision trees.
Thanks.A question on decision trees is certainly possible, although there is no reason to expect it any more than other areas she has not yet tested. (She brought several new things into the syllabus, but has not examined multi-product CVP analysis for example. This comes under the same syllabus heading as decision theory and so although one of them being asked is reasonably likely, it is very unlikely that she would ask both of these topics in the same exam!)
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Thank you very much. 🙂
Can anyone please post me link of any lecture or notes on value of perfect
information??
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