STAT 712 - Decision Making Under Uncertainty

Institution:

University of Pennsylvania

Subject:

Description:

Stine. Prerequisite(s): STAT 511 or STAT 621 or equivalent. Fundamentals of modern decision analysis with emphasis on managerial decision making under uncertainty and risk. The basic topics of decision analysis are examined. These include payoffs and losses, utility and subjective probability, the value of information, Bayesian analysis, inference and decision making. Examples are presented to illustrate the ideas and methods. Some of these involve: choices among investment alternatives; marketing a new product; health care decisions; and costs, benefits, and sample size in surveys.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.upenn.edu

Phone Number:

(215) 898-5000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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