5.DECISION MAKING PROCESS :-
Recognizing & defining the situation
Identifying the alternatives
Evaluating the alternatives
Apply the model
Selecting the best alternatives
Conduct a sensitivity of the solution
Implementing the chosen alternatives
Following up & evaluating the result
6.TYPE OF DECISION MAKING ENVIRONMENT
Decision making under certainty
Decision making under uncertainty
Decision making under risk
23.DECISION TREE :
Instances describable by attribute-value pairs
e.g Humidity: High, Normal
Target function is discrete valued
e.g Play tennis; Yes, No
Disjunctive hypothesis may be required
e.g Outlook=Sunny Wind=Weak
Possibly noisy training data
Missing attribute values
Application Examples:
Medical diagnosis
Credit risk analysis
Object classification for robot manipulator (Tan 1993)
25.Bayesian analysis
26.Utility theory :
Step for determine the utility for money :
Develop a payoff table using monetary values
Identify the best and worst payoff value
For every other monetary value in the original payoff table
Convert the payoff table from monetary value to calculate utility value.
Apply the expected utility criterion to the utility table and select the decision alternative with the best expected utility.
UNIT II - DECISION THEORY - QTBD - I MBA - I SEMRamesh Babu
THIS IS MATERIAL FOR DECISION THEORY IN QUANTITATIVE TECHNIQUES FOR DECISION THEORY IN M.B.A I YEAR I SEMESTER AFFILIATED TO JNTUK. I HOPE THIS MATERIAL WILL HELPS THE M.B.A. STUDENTS. REMAINING MATERIAL WILL BE UPDATED COMING SOON......
5.DECISION MAKING PROCESS :-
Recognizing & defining the situation
Identifying the alternatives
Evaluating the alternatives
Apply the model
Selecting the best alternatives
Conduct a sensitivity of the solution
Implementing the chosen alternatives
Following up & evaluating the result
6.TYPE OF DECISION MAKING ENVIRONMENT
Decision making under certainty
Decision making under uncertainty
Decision making under risk
23.DECISION TREE :
Instances describable by attribute-value pairs
e.g Humidity: High, Normal
Target function is discrete valued
e.g Play tennis; Yes, No
Disjunctive hypothesis may be required
e.g Outlook=Sunny Wind=Weak
Possibly noisy training data
Missing attribute values
Application Examples:
Medical diagnosis
Credit risk analysis
Object classification for robot manipulator (Tan 1993)
25.Bayesian analysis
26.Utility theory :
Step for determine the utility for money :
Develop a payoff table using monetary values
Identify the best and worst payoff value
For every other monetary value in the original payoff table
Convert the payoff table from monetary value to calculate utility value.
Apply the expected utility criterion to the utility table and select the decision alternative with the best expected utility.
UNIT II - DECISION THEORY - QTBD - I MBA - I SEMRamesh Babu
THIS IS MATERIAL FOR DECISION THEORY IN QUANTITATIVE TECHNIQUES FOR DECISION THEORY IN M.B.A I YEAR I SEMESTER AFFILIATED TO JNTUK. I HOPE THIS MATERIAL WILL HELPS THE M.B.A. STUDENTS. REMAINING MATERIAL WILL BE UPDATED COMING SOON......
what is decision making, conditions of decision making, decision making under certainty, decision making under uncertainty, decision making under risk, process of decision making, how to effactive decision making
what is decision making, conditions of decision making, decision making under certainty, decision making under uncertainty, decision making under risk, process of decision making, how to effactive decision making
This presentation contains the topic as follows, probability distribution, random variable, continuous variable, discrete variable, probability mass function, expected value and variance and examples
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The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
2. Decision Making
A decision may be defined as the selection of the action by the decision maker which is considered to
be the best according to some predetermined standard from amongst the available options
3. Steps in Decision Making
STEP 1 STEP 2 STEP 3 STEP 4
Identification of
all possible
outcomes called
as state of nature
or events
Identification of
all courses of
action called as
acts
Determination of
Payoff Function
Choosing from
among the
alternatives, the
best possible
action on the
basis of some
criterion
4. Terminologies
The Decision Maker
The decision maker may be an individual or a group of individuals who is responsible for
making the selection of the course of action from a set of possible courses of action
State of Nature
They are also known as events. States of Nature are various possible outcomes or occurrences
which are outside the decision makers control and they determine the level of success for a
given act
Course of Action or Acts
The acts are alternative course of action or strategies that are available to the decision maker.
The decision maker has control over the choices of these acts.
5. Terminologies
Payoff
It measures the net benefit resulting from each combination of a state of nature and a course
of action . The payoff values are also known as conditional profit values or conditional
economic consequences.
Payoff Table
A tabular arrangement of conditional payoff values is known as payoff matrix
Suppose there are m possible states of nature or events 𝑆1, 𝑆2, 𝑆3, … , 𝑆 𝑚
And n course of action or acts or strategies 𝐴1, 𝐴2, 𝐴3, … , 𝐴 𝑛
𝑃𝑖𝑗 = the payoff corresponding to the strategy 𝐴𝑗 of the decision maker under the state of nature 𝑆𝑖
Totally there are mn payoff values
7. Types of Decision Making Environments
1 2 3 4
Decision making
under certainty
Decision making
under uncertainty
Decision making
under risk
Decision making
under conflict
8. Decision Making Under Certainty
In this case the decision maker has the complete knowledge of the consequences of every alternative
or decision choice. Here the decision maker presumes hat only one state of nature is relevant for this
purpose. He identifies this state of nature , takes it for granted and presumes complete knowledge as
to its occurrence.
9. Decision Making Under Uncertainty
In this case the decision maker faces multiple state of nature but has no means to arrive aat the
probability values to the likelihood of occurrences of these state of nature .
10. Decision Making Under Risk
In this case the decision maker has to faces several state of nature. But he has some knowledge or
experience to assign probabilities value to the likely occurrences of these states of nature. The
objective is to maximize the expected profit or minimize the expected opportunity loss.