In addition managers frequently make decisions under conditions of uncertaintythey cannot know the outcome of each alternative until theyve actually chosen that alternative. Commonly referred to as Type A Data Type A Uncertainty is typically associated with the results of Repeatability and Reproducibility Testing.
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The decision will be informed by plotting cost-effectiveness acceptability curves with threshold value between zero and 100 000 per QALY gained and using the net monetary benefits framework.
. Type A Uncertainty is a component of uncertainty where data is collected from a series of observations and evaluated using statistical methods associated with the analysis of variance ANOVA. Consider for example a manager who is trying to decide between one of two possible marketing campaigns. The following section begins with a brief historical context and then discusses the basic concepts associated with statistical decision theory linking to a series of examples that seek to convey some of the issues that emerge in considering decision making under uncertainty and risk in the hydrometeorological context.
These approaches are semi-Bayesian and appropriately account for all parameter uncertainty for the adoption decisions.
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3 Decision Making Conditions
Decision Making Conditions Assignment Point
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