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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
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.
Instructors
Texas A&M Frequently Asked Questions (FAQ's)
This certification is provided by the Swayam online education portal with NPTEL.
The training is held for four weeks.
The learning is free in this course but the students are required to pay for the E-Certificate.
Students are preferred to have background knowledge of probability, calculus, and algebra.
Yes, you will get a course credit after finishing this certification training.