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Quick Facts

Medium Of Instructions	Mode Of Learning	Mode Of Delivery
English	Self Study	Video and Text Based

Course Overview

The ‘Decision-Making Under Uncertainty’ online course is a study about the various kinds of techniques and strategies used in decision-making for different situations. This operations research and management science course is provided by the online education portal Swayam by the government of India with the National Programme on Technology Enhanced Learning (NPTEL). The online classes of this elective program are conducted for a duration of four weeks.

This course belonging to the domain of commerce and operations management is instructed by Prof. Natarajan Gautam teaching Industrial and Systems Engineering from Texas A&M University. The students of this AITCE approved course are engaged with online learning methods aided by the online resources and lectures with the books and reference materials to gain both theoretical and experimental knowledge.

The ‘teaching Industrial and Systems Engineering’ online training enables students to get an online course certificate and academic course credits after completing the program.

The Highlights

Online course
Four weeks program
Undergraduate and postgraduate level
Elective course
Introductory level program
Course credits
AITCE approved
Professional guidance
Course certificate

Programme Offerings

Course Modules
Lectures
Online Resources
Books
references
assignments
Final Exam
E-certificate
Credit Points

Courses and Certificate Fees

Fees Informations	Certificate Availability	Certificate Providing Authority
INR 1000	yes	Texas A&M

There is no ‘Decision-Making Under Uncertainty’ certification fee mandate for this course, except for the exam registration fee which should be paid to write the exam.

Decision-Making Under Uncertainty fee structure

Fee Type	Fee Amount
Course Fee	Nil
Exam Registration Fee	Rs 1000

Eligibility Criteria

The students applying for the ‘Decision-Making Under Uncertainty’ program are required to have prior knowledge of mathematics and statistical concepts of calculus, algebra probability with the theories of random variables and expect value.

Certificate qualifying details

The ‘Decision-Making Under Uncertainty’ certification is given to the eligible students as per the following condition,

Internals - An average minimum score of 25%(10/25) in the best 3 out of 4 assignments.

Final Exam - An average minimum of 75%(30/75)

Total Score - 40/100

What you will learn

Analytical skillsMathematical skillDecision making skillsStrategic MindsetData science knowledge

The 'Decision-Making Under Uncertainty’ certification syllabus is structured for the students to develop strategies for analyzing situations for risks and uncertainties to make effective decisions. The learners of this course will gain competence for making better management decisions and for the different operations management. This course covers the aspects of descriptive, predictive, and prescriptive analytics and their applications. By the end of this course, students will acquire skills for probabilistic intuition and decision-making.

Who it is for

This ‘Decision-Making Under Uncertainty’ online certification course is designed for undergraduate and postgraduate students from various domains ranging from engineering to management. It also helps industry professionals and individuals to enhance their skills for strategic decision-making with this fundamental level of training.

Admission Details

The candidates who wish to join the ‘Decision-Making Under Uncertainty’ certification by Swayam and NPTEL should register through the course website.

Step 1: Find the course page using the link, https://onlinecourses.nptel.ac.in/noc21_mg74/preview

Step 2: Click on the ‘Register/Sign-In’ option.

Step 3: Enter the details and complete the registration.

Application Details

The applicants of the ‘Decision-Making Under Uncertainty’ course should enter the details of the course account if already registered in Swayam or they are required to open a new account and enter the course details. Students can also choose to sign in using their valid Google, Facebook, and Microsoft account details.

The Syllabus

Background and introduction
Risk, uncertainty, and variability
Probability, random variables, and expectation
Optimization criteria
Types of decisions

One-time decisions:
Secretary problem
Utility function; decision trees
TV game shows
Monte Hall problem
Project evaluation

Repeated decisions:
Newsvendor problem
Buffering to manage uncertainty
Safety stock for inventory
Route planning
Exploration vs. exploitation

Sequential adaptive decision-making
Strategic and operational
Stochastic programming
Simpson’s Paradox
Markov decision process

Evaluation process

The ‘Decision-Making Under Uncertainty’ certification exam is conducted at the end of the course at the allotted exam centers. Students are required to register for the course with the payment and should score a minimum of 75% to pass in the exam. This exam is mandatory for certification.