Making Hard Decisions: An Introduction to Decision Analysis (Business Statistics) (Hardcover)

~ (Author)

Editorial Reviews

Product Description

This best-selling and up-to-date survey of decision analysis concepts and techniques is accessible to students with limited mathematical backgrounds. It is designed for advanced undergraduate and MBA-level courses in decision analysis and also for business courses in introductory quantitative methods. (Prerequisites: college algebra; introductory statistics.)

About the Author

Robert T. Clemen is an Associate Professor at the Fuqua School of Business at Duke University. He has been an active contributor to the field of decision analysis since earning his Ph.D. at Indiana University in 1984 and is an authority in the use of expert information in risk analysis. Aside from his research interests, Bob has a strong focus on making decision analysis understandable to all students at all levels, ranging from creating teaching materials for high school students to teaching in executive education programs.

Product Details

• Hardcover: 696 pages
• Publisher: South-Western College Pub; 2 edition (August 15, 1997)
• Language: English
• ISBN-10: 0534260349
• ISBN-13: 978-0534260347
• Product Dimensions: 9.3 x 7.6 x 1.3 inches
• Shipping Weight: 2.7 pounds
• Average Customer Review: 3.6 out of 5 stars  See all reviews (5 customer reviews)
• Amazon.com Sales Rank: #395,115 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

15 of 15 people found the following review helpful:

5.0 out of 5 stars The best available intro to normative decision analysis, June 5, 1997

By A Customer

This is the best book available today for individuals interested in an introduction to normative (as opposed to descriptive) decision analysis. Although it's accessible to readers with minimal mathematical training, it is also very satisfactory for those with more mathematical sophistication, and I use it regularly as a reference in my own professional work. Clear explanations, excellent problems and exercises, and very well-organized. I highly recommend it. Michael S. Johnson, Arete Consulting, Portland, OR

22 of 24 people found the following review helpful:

5.0 out of 5 stars A clear, accessible introduction to an important field., July 22, 1999

By A Customer

This is a very accessible book. My classes routinely commend it. It begins by emphasizing the importance of clearly distinguishing between values, decisions and facts. It discusses the need to clarify one's values and then determine the decisions and facts that are relevant. It then discusses sensitivity analysis techniques for identifying which facts are crucial to your analysis. It discusses techniques for deciding when to gather further information. Finally it provides a very accessible discussion of how probability theory can be used to assess your payoff from different decisions. Dr. Robert F. Bordley, General Motors

13 of 13 people found the following review helpful:

5.0 out of 5 stars Studying for an MBA - buy this book, June 1, 1999

By A Customer

A perfect balance for those with mathematical expertise and those without - this book provides a well written and comprehensive view of decision making. Lots of easy to understand and relevant case studies - complete with answers.

I needed to get on top of this subject for my MBA course and, although there is a lot to this subject, in one book there is everything one could possibly need to know.

For corporate decision makers needing to get on top of the subject, this book provides a detailed enough insight to the subject to get started straight away. Its strength is that it is not trying to sell a Microsoft Excel add-in - in fact, it shows how to do without Excel add-ins (although these do make the job a lot easier).

Five stars.