Presenting Simulation Results

Presenting the results of a Monte Carlo simulation can be challenging when your audience isn’t inclined to receive probabilistic information.  Decision makers often want a single number for net present value, project completion date, or profit. How do we as the modeler/analyst present this information so it is understood and appreciated for the extra information …

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decision making under risk

Decision Making Under Risk and Uncertainty

Decision making under risk and uncertainty is a fact of life.  There are many ways of handling unknowns when making a decision.  We will try to enumerate the most common methods used to get information prior to decision making under risk and uncertainty.  We’ll also look at decision rules used to make the final choice.  For …

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