Decision making under uncertainty covering constructing payoff tables, uncertainty decision criteria (optimism/maximax, pessimism/maximin, equally likely/Laplace, realism/Hurwicz, regret/minimax regret criterion), risk attitude of decision makers.
Sampling and decision theory covering population and sample concepts, sampling process, advantages of sampling, biasness in sampling, sampling errors (non-sampling and sampling errors), principles of sampling (statistical regularity, inertia of large numbers), decision making environments.
Decision making under marginal costing covering exploring new markets, make or buy decisions, sales mix decisions, key factor analysis, product mix optimization, contribution analysis for managerial decisions.
Marginal costing and absorption costing covering meaning, basic features, income statement preparation under both methods, direct costing, differential costing, comparison of marginal and absorption costing techniques.
Break-even analysis covering meaning of break-even point, calculation methods (units, value, percentage), margin of safety, break-even chart preparation, angle of incidence, profit and loss areas, graphical representation.