Practical Uses of Decision Analysis

A Case Study on Feedlot Production Medicine

Abstract

For the majority of choices in life, decisions can be made without much introspection. A decision may not be important enough to warrant analysis or its outcomes are so easy to rank, the choice is obvious. Occasionally, however, situations arise where the consequences of each choice are not obvious. At these times we need systematic methods to estimate future events, consequences of actions, likelihoods of occurrences, and the end results of the many scenarios facing us.