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Risk and Uncertainty in Decision Making

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Course Description

This CPE course is included in the 60+ hours of Financial Performance Management Program .It can also be purchased individually or as a part of Financial Decision Making Many business decisions will involve an element of risk and uncertainty. This CPE course looks at how risk and uncertainty can be built into the decision making process. It explores, in depth, the probabilities and expected values, including histograms, utility theory, advantages and disadvantages of expected values, and standard deviations. This course also includes information on pay-off tables and decision criteria, maximax, maximin and minimax regret, as well as decision trees and multi-stage decision problems. In addition, there are multiple illustrations throughout to help in gaining an understanding of risk and uncertainty in the decision making process. Topics Discussed: Risk and uncertainty Probabilities and expected values Pay-off tables and decision criteria Maximax, maximin and minimax regret Decision trees and multi-stage decision problems Sensitivity analysis Conditional probabilities the Bayes theorem

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Learning Format 2.5 Hours
Self-Study / On-Demand

Credit Type(s)
Business Mgmt & Org

Knowledge Level
Basic