Course Title

Decision Analysis

Course Number

10676211

Instructor Name

Mohammed Dwikat

Contact Information

[email protected]

Semester(s) and academic year(s)

Summer Semester 2025
First Semester 2025
First Semester 2024

Compulsory / Elective

Compulsory

Decision theory, Decision under certainty, decision under uncertainty, manual decision methods, automated decision methods

This course is intended to provide basic knowledge of the main elements involved in decision making, decision modeling, decision analysis approaches, decision trees and the value of information, decision making under certainty, decision making under risk, decision making under uncertainty. This course will focus on decision analysis using simulation, decision trees and sensitivity analysis using MS-Excel.

At the end of this course students should be able to;

1-Building complex models, understand dependent, independent, controllable, and uncontrollable variables

3-use alternative decision variables and outcomes

4- apply decision theory alternatives MaxiMax, MaxiMin, and MiniMax

5-use data tables one and two inputs, manual sensitivity analysis

6-use add-in sensitivity analysis

7solve decision trees problems for decision making

8-evaluates risk simulation problems outcomes, use Monte Carlo simulation and solve for the decision maker

9- select the best among alternative decision

1. Decision Analysis Using Microsoft® Excel, Michael R. Middleton,2007
2. http://www.DecisionAnalysisUsingExcel.com