# 5s decision Theory Learning Objectives

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Bog'liq
Decisin theory AS
Mavjudlik, o'zgarish, bog'liqlikning asosiy shakllari. Falsafiy , Mavjudlik, o'zgarish, bog'liqlikning asosiy shakllari. Falsafiy , NIgor 5, BAKIROVA RA’NO, BAKIROVA RA’NO, 3-SINFDA MANTIQIY MASALALARGA QISQA YOZUV TUZISHDA RASM,CHIZMA VA JADVALLARDAN FOYDALANISH USULLARI, algoritmlar, 1 (16) (1), oddiy differensial tenglamalar uchun chegaraviy masalalarni oqitish usuli bilan sonli yechish, Seminar mavzulari(1), J, Html, Cadastre Eng, 8-sinf-matematika.docx (4), 8-sinf-matematika.docx (4)

## Learning Objectives

• Describe the different environments under which operations decisions are made
• Describe and use techniques that apply decision making theory under uncertainty
• Describe and use the expected-value approach

## Learning Objectives

• Construct a decision tree and use it to analyze a problem
• Compute the expected value of perfect information
• Conduct sensitivity analysis on a simple decision problem

Decision Theory represents a general approach to decision making which is suitable for a wide range of operations management decisions, including:
Product and service design
Equipment
selection
Location
planning
Capacity
planning
Decision Theory

## A set of possible future conditions exists that will have a bearing on the results of the decision

• A set of possible future conditions exists that will have a bearing on the results of the decision
• A list of alternatives for the manager to choose from
• A known payoff for each alternative under each possible future condition

Decision Theory Elements

## Identify possible future conditions called states of nature

• Identify possible future conditions called states of nature
• e.g., (demand will be low, medium, or high; the competitor will or will not introduce a new product)
• Develop a list of possible alternatives, one of which may be to do nothing
• Determine the payoff associated with each alternative for every future condition

Decision Theory Process

## If possible, determine the likelihood of each possible future condition

• If possible, determine the likelihood of each possible future condition
• Evaluate alternatives according to some decision criterion and select the best alternative

Decision Theory Process (Cont’d)