Decision Analysis Decision Analysis   A set of alternative actions  We may chose whichever we please A set of possible states of nature  Only one will be correct,…

GAME THEORY  Game theory may be defined as – “ a body of knowledge that deals with making decisions when two or more intelligent and rational opponents are involved…

Q U A N T I T A T I V E Decision-Making Tools A M O D U L E DISCUSSION QUESTIONS 1. The 6 steps of the decision process are: 1. Clearly define the problem and the factors…

Slide 1 Slide 2 Introduction When the market fails to achieve an efficient allocation of resources, government intervention can potentially remedy the problem. However, government…

Slide 1Decision making under uncertainty 1 Slide 2 1.Components of decision making 2.Criteria for decision making 3.Utility theory 4.Decision trees 5.Posterior probabilities…

Data and Decision Making Decision Models TUGAS MATA KULIAH Oleh : Shinto K A (041143025) Dwi Mukti Kusumawijaya Dyah Isnaini Puspitasari (041143041) Ricko Mardinsyah Wahyu…

1. Q U A N T I T AAT I V E M O D U L EDecision-Making ToolsDISCUSSION QUESTIONS1. The 6 steps of the decision process are:1. Clearly define the problem and the factors that…

1. Statistical By; Suresh T S I PG M.Com , 314 Decision Theory 2. The Decision-Making Process Thursday, August 6, 2015 Operations Research 2 Problem Decision Quantitative…

Slide 1Maximin Utility with Renewable and Nonrenewable Resources Jon M. Conrad Slide 2 In the spirit of Rawls (1971): If you did not know the generation into which you would…

Slide 11 Decision Analysis What is it? What is the objective? More example Tutorial: 8 th ed:: 5, 18, 26, 37 9 th ed: 3, 12, 17, 24 (to p2) (to p5) (to p50) Slide 2 2 What…