07 - Chapter 7 Alternatives and Models in Decision Making...

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Chapter 7 Alternatives and Models in Decision Making
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2 Alternatives and Models in Decision Making Alternatives in decision making Models in decision making Decision evaluation theory Decisions involving multiple criteria The decision evaluation display Decisions under risk and uncertainty
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3 Alternatives in decision making When do we have to make decisions? Consider too many alternatives or overlook some of them? Limiting and strategic factors. Comparing the alternatives.
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4 Models in decision making Direct and indirect experimentation Direct experimentation Moving furniture in the living room Moving pieces of equipment in a factory? Indirect experimentation Simulation
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5 Decision evaluation theory Evaluation by money flow modeling Evaluation by economic optimization modeling E = f ( X , Y d , Y i ) X : decision variables Y d : design-dependent parameters Y i : design-independent parameters
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6 Decisions involving multiple
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07 - Chapter 7 Alternatives and Models in Decision Making...

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