Math540 Week 2.1 Explain The Parts Of A Decision Tree

Math540- DQ1 week 2 1.Explain the parts of a decision tree. There are three parts of a decision tree. They are decision nodes (squares), probability nodes (circles), and decision alternatives (branches). 2.What are some benefits of using decision trees? Decisions trees force you to consider as many possible outcomes of a decision. They can provide the framework to consider the probability and payoffs of decisions, which can help one, analyze a decision to make the most inform decision possible.

3.In what ways can decision trees be used for business decisions? Name some real-world examples.

Decision trees not only provide a useful investment tool, but also enable one to explore the ranging elements that could