Model Analysis

Catalog description

An introduction to decision theory applied to complex and dynamic business, industry, and health care problems. Topics include multi-criteria decision theory, Bayesian decision theory, decision analysis under uncertainty and risk, simulation, utility theory, decision trees, analytic hierarchy process, marginal analysis, choice functions, forecasting models, and ethics and social responsibility in decision making. Applications to business, engineering, health care, supply chain management, quality control, inventory control, etc. Appropriate software tools for decision theory are used. Enrollment is limited to Graduate level students.