IE 412—Decision Analysis

Decision analysis that extends the domain of decision-making problems from those considered in traditional statistical hypothesis testing scenarios: modeling decisions, which emphasize structuring decision problems using techniques such as influence diagrams and decision trees; modeling uncertainty, which covers subjective probability assessment, use of classical probability models, Bayesian analysis, and value of information; and modeling preferences, which introduces concepts of risk preference, expected utility, and multi-attribute value and utility models. This course is dual-listed with IE 512.