CMGT 505 Decision Analysis
Introduces decision analysis, which is a quantitative decision making technique for systematic evaluation of alternative courses of action under conditions of uncertainty. Complex decision problems are decomposed into separable components for analysis. The decision maker's perceptions of options, future states of nature, probabilities and utilities for various options are determined explicitly. Topics include the fundamentals of probability theory, decision trees, expected monetary values, utility theory, sampling, and risk sharing.
Introduction to Decision Analysis: A Practitioners Guide to Improving Decision Quality
By David C. Skinner
Credit: 3 semester hours