Decision Analysis

Decision Analysis is about giving structure to choices made under uncertainty—turning vague managerial judgment into something you can actually reason about with probabilities, payoffs, and preferences. You'll spend the term building decision trees and influence diagrams, doing Bayesian updates to price the value of information, and eliciting utility functions to capture how a real person trades off risk against reward, with the workload split across quizzes, two projects, and regular homeworks rather than a midterm-heavy grade. It sits at the intersection of statistics and management practice, so it pairs well with operations and finance electives and pays off anywhere you later have to defend a recommendation when the data is thin and the stakes aren't.