Decision Analysis: A Guide to Effective Decision Making
Decision Analysis
Key Concepts
Decision Alternatives: Options available to the decision maker.
Chance Event: An uncertain future event affecting the consequence, or payoff, associated with a decision.
Consequence: The result obtained when a decision alternative is chosen and a chance event occurs. A measure of the consequence is often called a payoff.
States of Nature: The possible outcomes for chance events that affect the payoff associated with a decision alternative.
Influence Diagram: A graphical
Calculating Total Retail Value and Key Metrics
Calculating Total Retail Value
To calculate the Total Retail Value for Category 1001-SS and other categories, use the following formula:
- In the first cell under Total Retail Value (e.g., I5), enter:
=D5*E5 - Drag this formula down to apply it to the other categories.
Calculating Totals
Use the SUM function to calculate totals for Quantity and Total Retail Value:
- In the Quantity column (e.g., D30), enter:
=SUM(D5:D29) - In the Total Retail Value column (e.g., I30), enter:
=SUM(I5:I29)
Today’s Date
- To display
Statistics Key Concepts: A Comprehensive Guide
Measures of Central Tendency
Measures of central tendency are statistical metrics used to describe the center or typical value of a dataset. They summarize data distribution by identifying a single representative value. Common measures include mean, median, and mode.
Regression
Regression analyzes relationships between a dependent variable and one or more independent variables. It predicts the dependent variable based on independent variable values and assesses relationship strength.
Types of Regression
- Linear
Financial Statement Analysis
1. Horizontal Analysis
Number: 2009-2008
Percentage: ((2009/2008) -1) * 100
Interpretation: Balance Sheet
Total assets at the end of 2009 increased by S/. 3751 (6.47%) compared to the beginning of the year. Liabilities increased by S/. 3750 (6.47%) and shareholders’ equity increased by S/. 735 (2.28%).
Total cash and bank at the end of 2009 was S/. 38,743 higher (10.93%) than at the beginning of the year.
Total Accounts Receivable Trade at the end of 2009 was S/. 11,530 higher (31.65%) than at the beginning
Read MoreStatistical Quality Control: Defects, Variables, and Control Charts
1. Defects
1.1 Introduction.
Today, all modern companies understand that building a good level of quality is fundamental to successful management. Achieving this goal is important not only for competition but also for satisfying human needs.
These human needs are constantly evolving; there is ever-increasing demand for higher precision, more accuracy, interchangeability, comfort, and so on. Consumers’ expectations are constantly refined, and any company that doesn’t adapt risks being displaced.
To
Read MoreIntroduction to Architecture and Engineering
Building Shape and Heat Retention
1. The less compact the shape of a building, the less it retains heat.
2. The more compact the shape of a building, the more it retains heat.
Panel Dimensions
3. The edges of a panel to support the wall should be wide enough.
4. The panel may be of any height, provided the length does not exceed 40 times the thickness.
Earthquake and Hurricane Risks
5. The likelihood of an earthquake causing a breakdown in power supplies in Florida is low.
6. No buildings are two-dimensional.
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