QUICK & EASY exam technique for MaxiMax, MaxiMin & Minimax Regret | ACCA CBE PM

QUICK & EASY exam technique for MaxiMax, MaxiMin & Minimax Regret | ACCA CBE PM | Question Shifters

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🚀 Get all my PM Videos here: tinyurl.com/ACCA-PM-Help 🚀 Learn how to quickly and easily solve MaxiMax, MaxiMin, and MiniMax regret question in the CBE spreadsheet. I'll show you all the exam technique you need and share lots of spreadsheet tips to help you get a pass on your upcoming ACCA PM exam. If you are stuck on Risk and Uncertainty, this video is for you! Good luck on your upcoming exam.
Here's question Shifters: drive.google.com/file/d/1cbHU...
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Steve Willis ACCA
www.stevewillistraining.com
How to pass ACCA Exams
For more on this on ACCA PM Make-or-Buy, check out Open Tuition:
MaxiMax: • Risk and Uncertainty -...
MaxiMin: • Risk and Uncertainty -...
MiniMax regret: • Risk and Uncertainty -...
Find many other helpful videos on James Wright ACCA / jameswrightacca
More helpful videos from ACCA: • ACCA Student KZfaq C...
Table of Contents:
00:00 - Introduction
01:23 - Getting started with a template
02:56 - Setting up the P/L
05:28 - Using the helpful Min function
07:21 - Dealing with conditional costs
10:07 - How to find MaxiMax
11:45 - How to make payout table

Пікірлер: 23

@Kamalmarzooq2003 Жыл бұрын

That's Helpful!

@SteveWillisACCA Жыл бұрын

Glad it was helpful!

@abdulbarik1419 2 жыл бұрын

Really helpful

@SteveWillisACCA 2 жыл бұрын

Glad you think so!

@manzanongwenya9091 2 жыл бұрын

Please may you help me with a video on Operational and Planning variances, i just need this before the exam on Wednesday. Your videos are so helpful, thank you

@SteveWillisACCA 2 жыл бұрын

Just uploaded :)

@abanstephen6194 2 жыл бұрын

@@SteveWillisACCA most of us will be highly indebted to you.

@susannabbanja700 11 ай бұрын

More clarity on the variable cost value, i thought it will be calculated on the van capacity and also for capacity being greater than demand, i will be 90% on the variable cost since in the question states that if the capacity of the van is greater than the demand for crates in a period then the variable cost will be lower by 10%. thank you

@SteveWillisACCA 11 ай бұрын

Hi there. The van has a max capacity. So if demand is 120 KG, but my van only holds 100KG, then my variable cost will be for the 100 my van can hold, not for the total demand. If the van is partially empty because I sell all my units on the delivery route, then the VC drops 10%...that's the idea in this question.

@tuitionaire3090 2 жыл бұрын

Please how did you get the 48, 48 and 76? Also, why did you use -100 on the other column (i.e the column for when demand is higher than capacity)?

@SteveWillisACCA 2 жыл бұрын

those first ones are 10% reduction of the variable cost--it's just adding a +10% to the negative variable costs 480, 480, 760. the -100 is the 'lost customer goodwill' in the question: we didn't service all the customers so some will choose a different company. Make sense? Good luck Wednesday!

@sharath_bhs 2 жыл бұрын

for VC. we are using min formula but in previous Q we went with prod units. should we use min formula in that Q too?

@SteveWillisACCA 2 жыл бұрын

Great question! It depends on the context of the scenario--for the cement company, they commit to the production schedule before they sell--variable cost is linked to units produced, not sold. For the van, the variable cost is linked to how many crates they actually drive around-crate deliveries sold.

@sharath_bhs 2 жыл бұрын

@@SteveWillisACCA thanks, makes sense now :)

@vivica75 Жыл бұрын

Why do we choose the maximin and maximax based on demand? Why not based on Van capacity?

@SteveWillisACCA Жыл бұрын

Maximax is the best option in the worst-case scenario, which is low demand. The van capacity is our decision. So we go through the 2 options: big van/small van and then check the profits in the different demand states, the uncertainty.