[#1] Decision theory | Decision under uncertainty | FYBCOM FYBMS | SIRAJ SHAIKH

This is the video about decision theory under uncertainty in maths & stats. The first part of this video contains: -What is decision theory briefly and its environments (decision under certainty and decision under risk and decision under uncertainty) -Under uncertainty we have seen five different criterion along with the problems. -decision under uncertainty in that video we seen the below information. What is Laplace criterion or Equal probability or Rationality or Bayes's criterion What is criterion of Optimism (Decision theory when MaxiMax criterion) (Decision theory when MiniMin criterion) Criterion of pessimism or Wald criterion (Decision theory when MaxiMin criterion) (Decision theory when MiniMax criterion) In the next part will contains the below criterions MiniMax Regret criterion or Savage criterion (Maximization problems) (Minimization Problem) #sirajshaikh #decisiontheory #regrettable #mumbaiuniversity