Decision Theory

Catalog description

Decision theory deals with methods for determining the optimal course of action when a number of alternatives are available and their consequences cannot be forecast with certainty. This course will use quantitative methods (models) for problem solving and decision making. Theories and models to be covered include probability theory, utility theory and game theory, linear programming models, nonlinear programming models, and integer programming models. Prerequisites: TMGT 340 or MGT 340 with a minimum of C or better and instructor approval.