Pupil outcome: I can draw and use a frequency tree to calculate probabilities. Key learning points: - There are key differences between frequency trees and probability trees - Frequency trees are constructed using frequencies - Frequency...

Pupil outcome: I can compare and contrast the usefulness of the different representations when calculating conditional probabilities. Key learning points: - The same conditional probability can be found from multiple representations -...

Pupil outcome: I can use my knowledge of ratio to solve problems. Key learning points: - It is important to preserve the relationship between the parts of a ratio. - There is a functional relationship between the quantities in a ratio. -...

In this math video lesson we will learn about probability models. We will define probability models as a mathematical description listing all possible outcomes of an event and their corresponding probabilities. We will understand that a...

What is the Level of Certainty in Management Decision Making? Decisions are made under the condition of certainty when the manager has perfect knowledge of all the information needed to make a decision. This condition is ideal for...

This Video Explains Perception and the Types of Risk in a Negotiation

What is the Regret Theory? In decision theory, on making decisions under uncertainty—should information about the best course of action arrive after taking a fixed decision—the human emotional response of regret is often experienced, and...

What is Prospect Theory? The prospect theory says that investors value gains and losses differently, placing more weight on perceived gains versus perceived losses.

What is the Winterling Crisis Matrix? What is the Winterling Crisis Matrix? The Interlink Crisis Matrix, or simply crisis matrix, designed by Klaus Winterling, is an analytical tool that categorizes risk along two parameters: Probability...

What is the First Chicago Method of Business Valuation? The First Chicago Method is a valuation technique used to determine the financial worth of an investment or company by considering projected future cash flows and discounting them...

What are the Approaches to Management Decision Making? Rational decision-making model, Bounded rationality decision-making model, Intuitive decision-making model, and. Creative decision-making model.

In the first example, the expert, Dr Jodie Witkowski, makes the statement that suggests uncertainty about her material. No eye contact to the judge. The second example, the expert clearly and carefully articulates her information in an...

In this video, Dante the Dragonfly visits the show "Human Nature" to talk about the importance of hope. Through the story of Dharma, a young musician, Dante explains how hope gives us confidence and strength to pursue our goals, even...

A quick bite-sized introduction to Risks and Issues in 60 seconds

The Black Swan is a book about risk, by polymath, Nassim Nicolas Taleb.



Black Swans risks that meet
3 criteria
1. Outlier - not expected from prev
ious experiencer/>2. Extreme impact
3. E

xplainable...

Failure Mode and Effects Analysis (or FMEA) is a powerful methodology that comes from the domain of manufacturing and the toolset of Six Sigma. But it is also a valuable addition to any Project Manager's toolset.



So, what is...

This is the second way we can respond to a certain kind of risk and learn how to avoid risks at all costs.

With unprecedented heat waves and record-breaking global temperatures, it’s hard to believe that there might be a place on earth that has actually COOLED since the industrial revolution.

The video presents the famous "Sleeping Beauty Problem," a philosophical puzzle involving probability and consciousness. In the scenario, Sleeping Beauty is put to sleep, and a fair coin is flipped. If heads, she wakes up once; if tails,...

We explore the fundamental nature of entropy and its deep link to information. If you were taught that entropy measured disorder, you are in for a treat!

Chap
ters:
0
0:00 Intro
00:10 Macro-
and Microstates
02:06...

A Boltzmann brain is not real, but what’s fascinating about it is that it thinks it’s real, and all the memories and experiences it has are real. But, of course, this brain is not real. But how would such a brain know that its...

Heisenbergs uncertainty principle says that if we know everything about where a particle is located, we know nothing about its momentum. Conversely, if we know everything about its momentum, then we know nothing about where the particle...

How a small error in accuracy in the 19th century led to the prediction the Universe would one day fall apart – and the development of chaos theory. How small changes in dynamic systems can lead to much greater, unpredictable events....

Why scientists dispelled rumours of extreme waves at sea, based on flawed mathematics. Maths - Statistics And Probability A Twig Math Film. Reinforce and extend the learning required by the curriculum. Twig’s context films show abstract...