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BLOCK V: STATISTICAL DECISION THEORY Unit 1 :Decision Theory ConceptsUnit 2 :Steps in Decision Making ProcessUnit 3 :Decision Tree(197)Unit1 Decision Theory Concepts Unit Structure 1.1 Introduction 1.2 Objectives 1.3 Decision Theory Concepts 1.4 Summing Up 1.5 Key Terms 1.6 Model Questions 1.7 References and Suggested Readings1.1 Introduction In this unit, you will learn about decision theory also known as decision analysis. The basic function of any business manager is decision making for...
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