The aim of decision analysis is to try to supply some aids to the process of decision-making especially where the decision situation involves uncertainty. The idea is that, by proving the analytical framework, the manager will be able to concentrate ...
The aim of decision analysis is to try to supply some aids to the process of decision-making especially where the decision situation involves uncertainty. The idea is that, by proving the analytical framework, the manager will be able to concentrate on supplying the human inputs of intuition and experience one by one withut having to try to juggle these in his head, while at the same time tryinjg to provide further inputs.
in this paer, the author concentrated on developing the computer program of Bayesian decision procedure with data and the procedure of computing the expected payoff with continuous variables. This computer program was written in Apple Ⅱ BASIC language and the author used the TriGem020 micro-computer with 48K memory.