Upon successful completion of this course, you are expected to be able to formulate structure, analyze, and solve complex decision problems. Influence diagrams and decision trees for modeling decision problems, Bayesian analysis as applied to decision analysis, the concept and use of subjective probability, the value of information, and finally the use of probability models for solving decision problems will be covered during the lectures. Multi-criteria decision-making techniques will briefly be summarized by focusing on the Analytical Hierarchy Process.
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