Decision Analysis in Engineering (IND E 599)

A number of multi-criteria decision tools involving quantitative as well as qualitative methods will be introduced: decision-making under certainty and uncertainty with one and several criteria; decision analysis and decision trees, value of information, subjective probability and Bayesian statistics, utility and value theories, multiple-criteria decision-making. Concepts include goals and objectives; variables and relations; constraints and feasibility; uncertainty and risk; models and optimization; data and information; analysis and simulation. Case studies in decision and systems analysis will emphasize the concepts and tools.

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