Week 12: Interactive Learning activity

12.1 Learning Outcomes:

• Find some structured ways of dealing with complex managerial decision problems.
• Explain simple decision models and management science ideas that provide powerful and (often surprising) qualitative insight about large spectrum of managerial problems.
• Demonstrate the tools for deciding when and which decision models to use for specific problems.
• Build an understanding of the kind of problems that is tackled using spreadsheet modeling and decision analysis.

12.2 Action Required:

Read the following chapter of your Textbook.

Chapter 13: Decision Analysis

12.3 Test your Knowledge (Question):

• Explain the Decision Tress.
• Describe the Imperfect and Perfect information.