 | Learning Objectives
(See related pages)
After studying this chapter, you should be able to:
- Apply Bayes' theorem to revise population parameters.
- Solve sequential decision problems using the decision tree technique.
- Conduct decision analyses for cases without probability data.
- Conduct decision analyses for cases with probability data.
- Evaluate the expected value of perfect information.
- Evaluate the expected value of sample information.
- Use utility functions to model the risk attitudes of decision makers.
- Solve decision analysis problems using spreadsheet templates.
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