Page no:92
BM E1 – Foundations Of Decision Processes
Objective : To learn decision framework, theories and simulation, systematic problem analysis and decision making through case studies. Sr. No. 1 Chapter Details 1.4 Role of decision making in management 1.5 Framework 1.6 Criteria under conditions of certainty, risk and uncertainty Bytes Theorem. Sequential decision making decision tree analysis. 2.1 Theory of utility, Utility function curve. 2.2 Competitive strategies, game theory. 2.3 Single Channel 2.4 Single phase waiting line model with Poisson. 2.5 Distributed arrival rates and exponentially distributed service times. 2.6 Markov models. 3.1 Simulations: Monte Carlo, Application to queuing and inventory models. 3.2 Applications in functional areas of marketing, production, finance, Behavioral aspects in decision making. 3.3 Open and Closed models of decisions 4.2 Systematic problem analysis and decision making. 4.2 Decision making in functional areas– case studies. Nos. of Session Reference Books
10
1,2
2
10
1,2
3
10
1,2
4
10
1,2
Reference: 1. Decision analysis By Gregory G. 2. Quantitative Techniques for Business Decisions By Johnson R. D.