About this course: Useful quantitative models help you to make informed decisions both in situations in which the factors affecting your decision are clear, as well as in situations in which some important factors are not clear at all. In this course, you can learn how to create quantitative models to reflect complex realities, and how to include in your model elements of risk and uncertainty. You’ll also learn the methods for creating predictive models for identifying optimal choices; and how those choices change in response to changes in the model’s assumptions. You’ll also learn the basics of the measurement and management of risk. By the end of this course, you’ll be able to build your own models with your own data, so that you can begin making data-informed decisions. You’ll also be prepared for the next course in the Specialization.

Created by: University of Pennsylvania

Taught by: Sergei Savin, Associate Professor of Operations, Information and Decisions
The Wharton School
Taught by: Senthil Veeraraghavan, Associate Professor of Operations, Information and Decisions
The Wharton School

Basic Info	Course 3 of 5 in the Business and Financial Modeling Specialization.
Commitment	4 weeks of study, 1-3 hours/week
Language	English, Subtitles: Portuguese (Brazilian)
How To Pass	Pass all graded assignments to complete the course.
User Ratings	4.5 stars Average User Rating 4.5See what learners said

Syllabus

WEEK 1

Week 1: Modeling Decisions in Low Uncertainty Settings

This module is designed to teach you how to analyze settings with low levels of uncertainty, and how to identify the best decisions in these settings. You'll explore the optimization toolkit, learn how to build an algebraic model using an advertising example, ...

4 videos, 2 readings

Graded: Week 1: Modeling in Low Uncertainty Quiz

WEEK 2

Week 2: Risk and Reward: Modeling High Uncertainty Settings

What if uncertainty is the key feature of the setting you are trying to model? In this module, you'll learn how to create models for situations with a large number of variables. You'll examine high uncertainty settings, probability distributions, and risk, com...

3 videos, 2 readings

Graded: Week 2: Modeling in High Uncertainty Quiz

WEEK 3

Week 3: Choosing Distributions that Fit Your Data

When making business decisions, we often look to the past to make predictions for the future. In this module, you'll examine commonly used distributions of random variables to model the future and make predictions. You'll learn how to create meaningful data vi...

4 videos, 2 readings

Graded: Week 3: Choosing Fitting Distributions Quiz

WEEK 4

Week 4: Balancing Risk and Reward Using Simulation

This module is designed to help you use simulations to enabling compare different alternatives when continuous distributions are used to describe uncertainty. Through an in-depth examination of the simulation toolkit, you'll learn how to make decisions in high...

4 videos, 2 readings

Graded: Week 4: Using Simulations Quiz

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University of Pennsylvania

The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies.

Pricing

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Ratings and Reviews

Rated 4.5 out of 5 of 463 ratings

Pretty Useful

Got to learn many new things which are very relevant in the real world. Hoping to make use and apply the skills at work!

Very useful course!!!

It's hard to understand an accent and learn a brand new material at the same time. Having subtitles was very much helpful. Great course overall, thanks!

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Modeling Risk and Realities

Modeling Risk and Realities

Modeling Risk and Realities