Quantitative Management: Decision Analysis

Overview/Description
To introduce decision analysis and to demonstrate the expected value approach, the use of sample information, and utility theory

Target Audience
Analysts and business decision makers seeking competency in the area of quantitative management

Prerequisites
A general understanding of information systems and management principles, along with a grounding in calculus and algebra

Expected Duration
4:00 Hours

Objectives:

Quantitative Management: Decision Analysis

  • To introduce decision analysis as a tool for improving decisions based on uncertain information
  • To explain decision making under uncertainty and risk
  • To explain how to use sample information to make key decisions
  • To introduce utility theory as a tool for incorporating decision makers' attitudes toward risk in decision analysis


    • Course Number: KQM27SE