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Decision Based Design
book

Decision Based Design

by Vijitashwa Pandey
August 2013
Intermediate to advanced content levelIntermediate to advanced
284 pages
11h 23m
English
CRC Press
Content preview from Decision Based Design
106 Decision Based Design
where η is efficiency and x is the wind speed. One thousand realizations
of wind speed were generated for each location, and the corresponding
values of the efficiency were calculated using Equation 3.53. For each real-
ization the utility function value was calculated using the efficiency value.
Expected utility was then found by averaging the utility values for each loca-
tion. The expected utility values are 0.866 and 0.838 for the two locations,
and therefore location A should be chosen.
Problems and Exercises
1. What is a good decision? Give an example of a good decision that
you made in your life that resulted in a ...
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Publisher Resources

ISBN: 9781439882320