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ADMS 3330 (38)
Lecture

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Department
Administrative Studies
Course
ADMS 3330
Professor
Michael Rochon
Semester
Winter

Description
WEEK 4_Feb.06 ADMS 3330_S Page 1 of 4 Lecture #5 – Decision Analysis (QMB Chapter #4)  Decision Making Without Probabilities  Problem Formulation  DM without Probabilities  DM with Probabilities  Problem Formulation  Optimistic Approach (Maximax)  Conservative Approach (Maximin)  Influence Diagram (p.98)  Payoff Tables  Minimax Regret Approach  Decision Trees  Example 1 WEEK 4_Feb.06 ADMS 3330_S Page 2 of 4  Decision Making with Probabilities  Optimistic Approach (Ex. 1)  Expected Value of a Decision Alternative  Conservative Approach (Ex. 1)  Example: Burger Prince  Minimax Regret Approach (Ex. 1)
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