12.1 Learning Outcomes:

Find some structured ways of dealing with complex managerial decision problems.

Explain simple decision models and management science ideas that provide powerful and (often surprising) qualitative insight about large spectrum of managerial problems.

Demonstrate the tools for deciding when and which decision models to use for specific problems.

Build an understanding of the kind of problems that is tackled using spreadsheet modeling and decision analysis.

12.2 Action Required:

Read the following chapter of your Textbook.

Chapter 13: Decision Analysis

12.3 Test your Knowledge (Question):

Q: Explain the Decision Trees and describe the Imperfect and Perfect information.