Academic Catalog

IE451 DECISION ANALYSIS

Course Code: 5680451
METU Credit (Theoretical-Laboratory hours/week): 3(3-0)
ECTS Credit: 5.0
Department: Industrial Engineering
Language of Instruction: English
Level of Study: Undergraduate
Course Coordinator: Assist.Prof.Dr SAKNE BATUN
Offered Semester: Fall or Spring Semesters.
Prerequisite: Set 1: 5680265
Set 2: 5680262
One of the sets above should be completed before taking IE451 DECISION ANALYSIS.

Course Content

Maximizing expected monetary value. Utility theory. Judgmental probabilities. Value of information. Normal form of analysis. Risk sharing. Multi attribute utility theory.