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Chapter 2: Fundamentals of Decision Theory

Chapter 2: Fundamentals of Decision Theory. Good decisions : based on logic consider all available data and possible alternatives employ a quantitative approach. Bad decisions : not based on logic do not consider all available data and possible alternatives

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Decision Analysis

Decision Analysis. Chapter 3. Learning Objectives. After completing this chapter, students will be able to:. List the steps of the decision-making process Describe the types of decision-making environments Make decisions under uncertainty Use probability values to make decisions under risk.

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Chapter 2: Fundamentals of Decision Theory

Decision Analysis