Question
Expected values may be difficult or costly to estimate. In order to use a decision tree to analyze a business problem, you need to determine
Expected values may be difficult or costly to estimate. In order to use a decision tree to analyze a business problem, you need to determine the following:
- The different decision choices
- The probabilities for each branch
- The payoffs for each outcome
Which of the above would be the hardest to determine? Please explain why?
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
