TLÜ ÕIS

Decision Analysis

Course code

MLJ7020.LT

old course code

MLJ7020

Course title in Estonian

Otsustusanalüüs

Course title in English

Decision Analysis

ECTS credits

5.0

Assessment form

Examination

lecturer of 2023/2024 Spring semester

Not opened for teaching. Click the study programme link below to see the nominal division schedule.

lecturer of 2024/2025 Autumn semester

Not opened for teaching. Click the study programme link below to see the nominal division schedule.

Course aims

Main learning objective is to be able to make effective operational and strategic decisions using concepts and quantitative tools from the fields of decision modeling and data analysis, but also develop quantitative models for decision problems by identifying controllable factors, uncontrollable factors, performance measures and relationships.

Brief description of the course

The course is a combination of lectures and seminars and is intended to develop and analyze environmental planning models and perform sensitivity analysis to identify critical factors, measure uncertainty using probability, and perform Monte Carlo simulation to gain insight into practical decision problems, develop and analyze decision tree models for sequential decision problems and determine value of information. This course presents the principles and techniques for solving decision-making problems using mathematical models. Topics from utility theory and influence diagrams modeling to multi-attribute utility theory and analytic hierarchy process are covered. Approximately 12 homeworks (themes for report papers) will be handed out throughout the course.

Learning outcomes in the course

Upon completing the course the student:
- has a multi-disciplinary understanding of common theories of decision analysis, have knowledge of decision analytic techniques and be able to solve some simple decision problems;
- is able to work effectively as a member of a group to evaluate decision support systems.

Teacher

Kadi Padur, MSc

Prerequisite course 1

Data Analysis: Inferential Statistics (IFI7044.DT)

Study programmes containing that course