Course Objectives: | To provide undergraduate students access to elements of quantitative decision
analysis including: the decision process; economical and financial consequences of
engineering decisions; effects of cash flows, capital costs, depreciation and taxes
on decision variables, statistical techniques for alternative development and
evaluation; and, statistical quality control. |
Topical Outline: | Decision process and decision making
Compound interest concepts
Present worth analysis; financial decision analyses
Depreciation, taxes, and inflation
Future events estimation
Descriptive statistics and presentation
Frequency distributions
Probability
Statistical inference
Linear decision models
Decision analysis case studies |