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Jun 15, 2024
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EMGT 6915 - Engineering Decision and Risk Analysis
Useful tools for analyzing difficult decisions and making the right choice. After introducing components and challenges of decision making, the course proceeds with the discussion of structuring decisions using decision trees and influence diagrams. Decision making under uncertainty is emphasized including maximax, maximin, and minimax regret techniques. Modeling of different risk attitudes based on risk and return tradeoffs are analyzed through utility theory. Finally, decisions under conflicting objectives and multiple criteria are discussed along with some introduction to game theory.
Credit Hours: (3)
Restriction(s): Integral and Differential Calculus, Statistics, Probability or permission of instructor.
Schedule of Classes
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