Decision Analysis

This course examines the basic principles for performing a decision analysis, including those needed for decision making in areas such as medicine, the environment, and public health. Topics include the components of a decision and a model of a decision, the use of probability as a model for reasoning with uncertainty, subjective probability, utility theory, Bayesian inferential methods, sensitivity analysis, Monte Carlo simulation, and multi-objective decision problems. Professional decision analysis software will be used throughout the course.

Prerequisites: STAT 02360 or equivalent