Page 193 - P1 Integrated Workbook STUDENT 2018

Chapter 11

Risk and uncertainty

Outcome

By the end of this session you should be able to:

 discuss the nature of risk and uncertainty and the attitudes to risk by decision
makers

 analyse risk using sensitivity analysis, expected values, standard deviations and
probability tables

 apply decision models to deal with uncertainty in decision making

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Integrated Workbook can
be found in Chapter 14 of your Study Text

189