BANA 6640 - Decision Analysis

Examines business decision making under conditions of risk and uncertainty using quantitative decision analysis methods such as utility theory, value of information, influence diagrams, decisions with conflicting objectives and hierarchical structured models. Psychological issues and informal fallacies in the decision making process will be discussed. Applications include decisions commonly encountered in capital acquisitions, financial investments, quality control, project selection, strategic planning, production control and human resource management. Student computer-assisted projects are conducted. Restriction: Restricted to graduate majors and NDGR majors with a sub-plan of NBA within the Business School. Max hours: 3 Credits. Semester Hours: 3 to 3