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About Technical Articles
This document provides an overview of decision trees and how to construct and evaluate them. It begins by defining decision trees as diagrams that show all possible courses of action and outcomes in a decision problem. It then discusses how to construct a decision tree by drawing decision points (squares) and outcome points (circles) with branches. Probabilities and values are added to the tree. To evaluate, expected values are calculated moving from right to left and the highest value identifies the recommended action. An example decision tree about developing a new product is presented in detail to demonstrate these concepts.
Detailed Information
| Author: | [' thoma'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 61 |
| Language: | English |
| Format: | |
| Price: | FREE |
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