## An introduction to quantitative methods for decision making |

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### Contents

Building mathematical models | 1 |

Probability Distributions | 37 |

Decision Making using Expected Monetary | 94 |

Copyright | |

23 other sections not shown

### Common terms and phrases

additional algorithm allocation amount arrivals assignment basic feasible solution basic variable binomial distribution calculations coefficient column Company consider constraint equation customers decision fork demand determine the optimal discrete probability distribution dynamic programming equal estimated event probabilities EVSI example expected value fraction defective given holding cost inventory iteration linear programming loss functions manpower level marginal probabilities maximize maximum mean number minimize minimum node non-basic variable normal distribution number of units objective function optimal act optimal decision optimal lot optimal number optimal solution payoff penalty cost percent period Poisson distribution possible posterior preposterior analysis programming model programming problems queue random variable represents salesmen sample outcome shadow price shown in Figure shown in Table simplex algorithm slack variable solve stage standard deviation subjective probability Suppose tableau test marketing total relevant cost utility weighted zero