Design Decisions under Uncertainty with Limited Information
Download or Read eBook Design Decisions under Uncertainty with Limited Information PDF written by Efstratios Nikolaidis and published by CRC Press. This book was released on 2011-02-18 with total page 538 pages. Available in PDF, EPUB and Kindle.
Author | : Efstratios Nikolaidis |
Publisher | : CRC Press |
Total Pages | : 538 |
Release | : 2011-02-18 |
ISBN-10 | : 9780203834985 |
ISBN-13 | : 0203834984 |
Rating | : 4/5 (85 Downloads) |
Book Synopsis Design Decisions under Uncertainty with Limited Information by : Efstratios Nikolaidis
Book excerpt: Today's business environment involves design decisions with significant uncertainty. To succeed, decision-makers should replace deterministic methods with a risk-based approach that accounts for the decision maker‘s risk tolerance. In many problems, it is impractical to collect data because rare or one-time events are involved. Therefore, we need a