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Good day John. I will first of all like to thank you for the F5 lecture videos. They are really easy to understand and demystify the mysteries in F5.
I have a little worry under decision trees particularly the area on finding the value of perfect and imperfect information. The problem does not relate to particular F5 past question. I just have difficulty understanding how to calculate the value of information, the value of perfect and imperfect information. I do not know if you can help me with this. ThanksFinding the value of perfect information does not require decision trees (although you can use them if you want) and I do go through how to calculate in in my lectures (going through example 1 part (c) in the chapter on Risk and Uncertainty).
With regard to imperfect information, example 2 (and the lecture that goes with it) in the same chapter is an example of imperfect information, and is harder than anything you could expect in the exam.Thank you very much. I will try going through the lectures and see if I can understand value of perfect and imperfect information this time around
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