Commerce 2da3 - Study guides, Class notes & Summaries

COMMERCE 2DA3 - Decision Making with Analytics study guide solution complete update McMaster University

COMMERCE 2DA3 - Decision Making with Analytics (start to midterm) The final is not comprehensive complete solution guide McMaster University

COMMERCE 2DA3: Flashcards (midterm to final) Exam Study Guide Solutions Decision Analysis - ANSWER-A systematic approach to the study of decision making. 1. clearly define the problem 2. list all possible alternatives 3. identify all possible outcomes for each alternative 4. identify the payoff for each alternative and outcome combination 5. use a decision modelling technique to choose an alternative - ANSWER-The five steps of decision making are... Decision making under certainty - ANS...

COMMERCE 2DA3: Flashcards (start to midterm) Exam Study Guide Solutions Programming - ANSWER-Setting up and solving a problem mathematically. Optimization - ANSWER-The process of finding the optimum (Min/Max) for an objective function by changing decision variables with respect to constraints. Model - ANSWER-A representation of real-world problems or phenomenon, which is built upon a set of relationships and logical assumptions. Decision Modeling - ANSWER-The development of a mathematical...