Year of Study:	3 - 4
Credit Units:	3
Duration:	45hours
Prerequisites:	AMS3300 Statistical Inference or with the Instructor’s permission and upon endorsement of the relevant Chairperson or Programme Director.

This module aims to provide students with a close look at the process of
decision analysis, to enable students to understand the theories and methods for
decision analysis under uncertainty, to develop students’ effective
decision-making skills for risk management, and to enable students to apply the
concepts to deal with real-world problems in industrial and financial areas.

Upon completion of this module, students should be able to:

1. understand the fundamental concepts and theories of decision analysis;


2. apply the statistical decision making knowledge and techniques;


3. apply decision making techniques for decision analysis under uncertainty; and


4. solve decision problems and present decision analysis results with/without the use of computer software.