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Hi All,
Can you advise if the following can be quized for Uncertainty in the exam:
imperfect information, value of information, bayes rule, posterior probability and VaR. I have studied Standard Deviation, expected Value decision making criteria (maximax etc) from article one. Study guide doesnt state the sections Im querying in its syllabus.Thanks for the help in advance!
In general in the syllabus uncertainty is defined as an outcome where the risk can’t be quantified – so discussing the first two at a one mile up level might be appropriate. VaR isn’t covered at this level nor is Bayes Rule and Posterior Probability.
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Also value of perfect and inperfect information is not in F5, it is in P5, but starting next year, calculation of the value of perfect information is included in F5. Expected value and maximax, maximin, minimax regret are all in F5
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help
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