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SEO Keyword summary for www.slideshare.net/slideshow/ppt-on-decision-theory/5998341
Keywords are extracted from the main content of your website and are the primary indicator of the words this page could rank for. By frequenty count we expect your focus keyword to be decision
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Short Tail Keywords decision theory making |
long Tail Keywords (2 words) making under decision making decision theory game theory under uncertainty |
long Tail Keywords (3 words) decision making under making under uncertainty uncertainty decision making analysis ppt bec under uncertainty decision uncertaintydecision making under making under risk |
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ppt decision theory download pdf view online free
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slideshare scribd company logo bhuwanesh rajbhandari presented bydileep kumarimb introduction six steps decision theory types making environments under risk uncertainty game theorycontents extent success failure person experiences lifedepends upon she makesthere are several exampleswe know where good decisions made individuals destiny one based logic considers all available dataand possible alternatives applies quantitative approach its rarepossibility brings unexpected unfavorableresultsoutcomes sometimes happened you make bad but lucky toget favorable outcome said still analytic systematic way tackleproblemsintroduction language games minimax criterion pure strategy mixed dominancegametheory historyaccording modern history dates back john von neuman oscar morgestern published book theoryof economic behaviour since then has beenused army generals plan war strategies union negotiators andmanagers collective bargaining business determine thebest given competitive environment consider impact strategiesof others onour outcomesa contest involving two moredecision makerseach whom wants win study howoptimal formulated conflict there stores market having different advertising strategiesfor products radio spots newspaper adsstore payoff matrixlanguage gamepayoff matrixgame playerysstrategiesplayer use usenewspaperstrategies newspapers store storeys outcomechange inmarket sharex wins andy loses news paper outcomes player using will select thatminimizes maximum loss upper value equal minimum maximumvalues columns lower values rows equilibrium saddle point condition exists thegame called ofthe gamethe present should follow willalways same regardless other players strategythis thepure situation both arefacing strategiespure optimize expected gain play certainpercentage time most common solve theexpected approachmixed principle dominance can used reduce size byeliminating would never played issaid dominated always well better playinganother any eliminated from gamedepending outcomesdominace clearly define problem hand list identify states nature profit combination andoutcomes mathematical models apply model decisionthe here thompson lumber case example toillustrate these founder andpresident profitable firm located inportland oregoncase identifies whether expand hisproduct line manufacturing marketing new product backyardstorage shedsstep second step alternative thompsons generate tohim course action strategythat maker choose according him his areto construct large plant manufacture storage sheds small makers try onsome occasion even least important might turn out bethe best choicestep third criteria established tothompson storagesheds could favourable means high demand productor unfavourable low theproduct optimistic tend ignore aspessimistic managers may discount dontconsider possibilities difficult logical andthe result undesirable some over little orno control known naturestep fourth payoffs resulting ofalternatives because maximize hisprofits profits evaluate consequences not everydecisionof money alone appropriatemeans measuring benefit acceptablein call suchpayoff conditional valuesstep last data help selecting modeldepends operating amountof invovled decisiontable thompsonstep state naturealternative favourablemarketunfavourablemarketconstruct largeplant smallplant plants people depends how much knowledge orinformation have about situationthere three kind ofdecision certainty uncertaintytypes makingenvironments consequencesevery choice naturally bestoutcome lets say invest period yearand either open savings account paying interest another govt treasury bond investments secure guaranteed bestalternative investment option maximumprofitdecision knows foreach probability occurance being dealt club ofrolling die usually attempts tomaximize her forbusiness problems typically employ twoequivalent maximization monetary andminimization weighted alternativedecision decisionmaker does probabilities occurrences various examplethe democratrepublican thepresident country years now covered section follows maximaxthis find maximizes maximumpayoffs consequence every alternativehere first locate themaximum pick withthe numberthis also maximinthis finds minimumpayoff theminimum within alternativewith pessimistic criteriondecision realismalso average compromisebetween decisionlet coefficient ofrealism selectedthe between closeto futurewhen close pessimisticit helps buildfeelings relative optimism pessimism amaximum row aminimum equally likelylaplaceone uses eachalternative likely laplace criterionthisis highest regretthe final discuss onopportunity regretcontd thank uncertaionity chapter decisionmaking ppt analysis bec doms statistical inroduction lecture notespdf unit tree operation research chap poisson distribution managing uncertainties transportation normal simulation powerpoint notes techniques pert intro crime criminal justice essay exam docx behavioral economics dan competitivepptx strategic businesspdf 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