ORL-30306 Decision Science 2

Course

Credits 6.00

Language of instruction:

English

Assumed knowledge on:

ORL 20306 (Besliskunde 1, Decision Science 1)

Continuation courses:

ORL-30806

Contents:

This course broadens and deepens the knowledge and skills acquired in ORL 20306 Besliskunde 1 / Decision Science 1.
In Decision Science 2 the focus is on decision problems in situations with uncertainties. These uncertainties can be about future circumstances, or about the exact values of parameters in the present situation. Some of the topics: decision making under uncertainty, stochastic dynamic programming, the value of information, queueing theory, stochastic linear programming, discrete simulation, heuristics.

Aims:

- recognize situations where typical problems of decision science exist;
- be able to formulate a quantitative model when a problem is presented;
- gain insight in the procedures and theory of some important techniques of Decision Science;
- be able to apply these techniques to practical problems.

Activities:

- studying the reader;
- making exercises;
- acquiring knowledge and skills by active participation in the tutorials;
- acquiring skills in active participation in practicals;
- apply the newly acquired knowledge and skills in a case-study.

Examination:

written exam.

Literature:

Reader Decision Science 2, which will contain the course guide.