PPT-Management-Science-Chapter-4.pptx
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This document discusses decision-making theory and quantitative techniques in business management science. It outlines topics like the steps, conditions, and criteria involved in decision-making under uncertainty and risk. The objectives are to determine favorable payoffs using decision-making criteria, describe decisions under certainty, risk and uncertainty, and apply probability and marginal analysis to solve decision problems and maximize profit. The introduction defines decision theory as a body of knowledge and analytical techniques to help managers choose between alternatives and consequences.
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A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
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- 1. Management Science (Quantitative Techniques in Business) (Source: https://pixabay.com/illustrations/businessmen-team-group-cooperation-3110816/)
- 2. MODULE 4 Decision-making Theory (Source: https://www.emotionalintelligenceatwork.com/resources/best-way-make-decisions/)
- 3. Topic Outline • Introduction • Steps in Decision-making • Conditions in Decision-making • Criteria in Decision-making • Decision-making under Conditions of Uncertainty • Decision-making under Conditions of Risk • Marginal Analysis with Discrete Distribution • Alternative Decision-making • Marginal Analysis with Normal Distribution
- 4. OBJECTIVES • Determine favorable payoffs using the maximin, maximax, and minimax regret criteria • Enumerate the characteristics of a decision theory approach to decision-making • Describe and give examples of decisions under certainty, risk, and complete uncertainty • Introduce the method of computation for the expected value or mathematical expectation • Solve decision-making problems • Draw conclusions in maximizing profit in decision theory problems • Apply probability in solving decision theory problems • Determine the need of studying problems involving decision-making • Come up with decisions that maximize the profit in business • Illustrate the use of the decision tree as a tool in decision analysis • Use decision trees to lay out decision alternatives and possible consequences of decisions
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