Provides sound knowledge of optimal decision making in statistics and operations research problems. Serves a quick reference by exploring the research literature on the subject with commercial value-added research applications in statistics and operations research. Provides sound knowledge of optimisations and statistical techniques in modelling of real-world problems. Reviews recent developments and contributions in optimal decision-making problems using optimisation and statistical techniques. Provides an understanding of formulations of decision-making problems and their solution procedures. Describes latest developments in modelling of real-world problems and their solution approaches.