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14 minutes

How to Calculate Conditional Probability for Decision Making

You will learn how to…
Assess the effects of your decisions based on conditional probability
Evaluate options using the decision tree
Make and implement managerial decisions
Collect and analyze information for decision-making
Dr. Scott Page
Visiting Research Professor at INSEAD
Lecturer's bio
Lecturer's bio

Scott Page is an internationally-recognized expert in complex systems. He directs the Center for the Study of Complex Systems at the University of Michigan and lectures at INSEAD business school.

Dr. Page has been awarded prizes for contributing to science and education by the California Institute of Technology, the Kellogg Graduate School of Management, the University of Wisconsin, and the University of Michigan.

He has written several books: The Difference: How the Power of Diversity Creates Better Groups, Firms, Schools, and Societies, Diversity and Complexity and Computational Models in Political Economy. He was elected to the American Academy of Arts and Sciences in 2011.

Started: 1555
Rating: 84%

What is this course about?

After completing this mini-course, you will learn what conditional probability in business is and will be able to think through your actions, anticipating the end result in advance. You will learn how to use decision trees after going through several examples. You will start using these techniques in your work and will be confident that you have considered all possible scenarios, calculated all possible benefits, and taken into consideration all of the decisions you will have to make. Complete the thematic mini-course and start thinking strategically.


Who is this course for?

  • Entrepreneurs
  • Managers at all levels
  • Risk managers
  • Analysts