Predicting Business Outcomes Using Payoff Tables & Decision Trees


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A payoff table considers:

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1. Both payoff tables and decision trees are used to calculate or predict the _____ of a particular event combination occurring.

2. A business is contemplating an expansion. The company could build to the north, the east, or it could decide not to expand at all. North, east and no change are best characterized as:

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About This Quiz & Worksheet

This quiz and worksheet combo will test your knowledge of payoff tables and decision trees. You will be quizzed on the definition of these tools and related terms, along with common mistakes made when using them.

Quiz & Worksheet Goals

Use this quiz to test your knowledge about the following topics:

  • Definitions of payoff tables and decision trees
  • Factors that are taken into account in a payoff table and a decision tree
  • Common mistakes made in payoff tables and decision trees and likely result
  • Term for possible courses of action

Skills Practiced

This quiz and worksheet will test you on the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related payoff tables and decision trees lesson
  • Defining key concepts - ensure that you can accurately define main vocabulary, such as payoff tables and decision trees.
  • Information recall - access the knowledge you've gained regarding mistakes made that lead to negative results
  • Knowledge application - use your knowledge to answer questions about strategic decision-making when using a payoff table

Additional Learning

To learn more about payoff tables and decision trees, review the accompanying lesson called Predicting Business Outcomes Using Payoff Tables & Decision Trees. This lesson covers the following topics:

  • Applying a payoff table and decision tree
  • Examples of a payoff table and a decision tree
  • Analyzing the results
  • Factors in making the decision