Decision tree is a concept based on? a) Bill of material b) Probabilities and payoff of the...

Question:

Decision tree is a concept based on?

a) Bill of material

b) Probabilities and payoff of the events and alternative decisions

c) Goals theory

d) Amortization schedule

e) None of the above

Decision tree analysis:

A decision tree is a tool used by different people in the decision making process.

It is a graphical representation of the available alternative solutions to a problem.

Answer and Explanation:

Decision tree is a concept based on?

b) Probabilities and payoff of the events and alternative decisions

In using a decision tree analysis it...

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What Is a Decision Tree? - Examples, Advantages & Role in Management

from Introduction to Management: Help and Review

Chapter 2 / Lesson 12
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