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May 07, 2024
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EMGT 6915 - Engineering Decision and Risk Analysis
Credit Hours: (3)
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.
Prerequisite(s): Integral and Differential Calculus, Statistics, Probability or permission of instructor. Useful tools for analyzing difficult decisions and making the right choice.
Schedule of Classes
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