Search results
Results from the WOW.Com Content Network
Decisions are reached through quantitative analysis and model building by simply using a best guess (single value) for each input variable. Decisions are then made on computed point estimates. In many cases, however, ignoring uncertainty can lead to very poor decisions, with estimations for result variables often misleading the decision maker [4]
The problem of points, also called the problem of division of the stakes, is a classical problem in probability theory. One of the famous problems that motivated the beginnings of modern probability theory in the 17th century, it led Blaise Pascal to the first explicit reasoning about what today is known as an expected value .
The game of Wald's maximin model is also a 2-person zero-sum game, but the players choose sequentially. With the establishment of modern decision theory in the 1950s, the model became a key ingredient in the formulation of non-probabilistic decision-making models in the face of severe uncertainty. [4] [5] It is widely used in diverse fields ...
In fact, according to decision theory, the only value that matters in the above matrix is the +∞ (infinitely positive). Any matrix of the following type (where f 1, f 2, and f 3 are all negative or finite positive numbers) results in (B) as being the only rational decision. [4]
on their corporate boards.4 A gender-diverse board of directors impacts the future of women in a company's senior leadership. Catalyst found a clear and positive correlation between the percentage of women board directors in the past and the percentage of women corporate officers in the future.5
February 4, 2020 at 2:48 PM The race to the White House is heating up, and Caroline Kennedy is the latest high-profile name to share her top pick for Democratic nominee.
Campbell's law is an adage developed by Donald T. Campbell, a psychologist and social scientist who often wrote about research methodology, which states: . The more any quantitative social indicator is used for social decision-making, the more subject it will be to corruption pressures and the more apt it will be to distort and corrupt the social processes it is intended to monitor.
Two coaches faced the same remember-it-forever moment in the Prep Bowl, the same decision: Go with one play that would either win or lose the state championship, or play it safe to extend the game.