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Chapter 3

Chapter 3. Fundamentals of Decision Theory Models. Decision Theory. Decision theory is the analytic and systematic methodology for making the best decision. Features of Decision Making. Decision making is for __________. a. past b. future c. both past and future

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Decision Theory

Decision Theory Professor Ahmadi Learning Objectives Structuring the decision problem and decision trees Types of decision making environments: Decision making under uncertainty when probabilities are not known Decision making under risk when probabilities are known

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Chapter 3

Decision Theory