Decision Analysis 1
Decision Analysis 1 : A structured way of thinking about how the action taken in the current decision would lead to a result. The technique distinguishes the decision to be made, the chance and unknown events that can affect the result, and the result itself. Decision analysis then constructs logical or mathematical models of the relationships within and between these three features of the decision situation. The models are used to estimate the possible implications of each course of action in relation to predetermined objectives
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