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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!
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 🙂 )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!
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