In Volume 2: Probabilistic Models, author M. A. Mian presents the concepts of decision analysis, incorporating risk and uncertainty as applied to capital investments. In the expanded and updated second edition of Volume 2, Mian integrates new advancements and clarifies concepts to facilitate their understanding. Each topic is introduced, followed by a brief discussion related to its application in practice and a solved example. Includes a companion CD with applications, spreadsheets, and tables that expand the practical application of the book's material.