Quantitative decision analysis

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IE code:
MC021-021-I
Language: English
Format:
PDF
Nr. Of Pages:
10
Type of publication:
Technical Note

Description

This technical note introduces students to quantitative methods and modeling techniques to facilitate decision making. In order to learn how to apply scientific methods to help them choose the best possible strategy to reach their goal. Using an example, students are taught how to make a decision using expected values in order to transform non-controlled variables into a numeric value.                                                                                             

Various examples are given so that students can learn how to make decisions based on different levels of risk aversion.