Suppose you work in the microbiological quality control sector of an industry and you have released a batch of vaccines for commercialization, since the result of the in vitro pyrogen test (LAL test) was negative. However, the batch of vaccines returned to the factory after reports of fever (which should not occur for the vaccine in question) in several children vaccinated with units from this batch. Explain why this phenomenon may have occurred, and what are the advantages and limitations of this essay

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Decision Theory in Operations Management

Decision theory, also known as the theory of choice, is a branch of statistics that deals with making decisions based on the probability of the occurrence of an event. The chief purpose of decision theory is to identify the best course of action for the company with maximum payoffs.