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Tag: EMV

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Decision Tree / Expected Monetary Value model for risk analysis

  • admin
  • Posted on October 16, 2011

EMV is a statistical concept (with a defined formula) which calculates average outcome when there is uncertainty in the final outcome (more than one possible outcome), where as Decision Tree model is an enabling analysis tool to represent the available decision choices as decision tree with their monetary value and probability of occurrence. So I…

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