Decision and Risk Analysis. 3 credits

Catalog description

Studies analytic techniques for rational decision making that address uncertainty, conflicting objectives, and risk attitudes. Covers modeling uncertainty; rational decision making principles; representing decision problems with value trees, decision trees, and influence diagrams; solving value hierarchies, decision trees and influence diagrams; defining and calculating the value of information; incorporating risk attitudes into the analysis; and conducting sensitivity analyses. Offered by Systems Engr & Operations Rsch . Limited to two attempts.