1 page/≈275 words
Business & Marketing
Quanitive Analysis: Decision Trees and Decision Making (Math Problem Sample)
Introduction: A company xxxxxxxxxxxxxxxxxxxxx Given: .......................... source..
Decision Trees and Decision Making
Decision trees and decision making
Expected values occur when there is an averaging process with numerous alternatives. It is the aggregate of the product of probability and value of individual outcomes. In essence the expected value is a decision criterion after evaluating the possible outcomes (Lucey, 2003). Under conditions of uncertainty decisions cannot be made subjectively. Thus, quantifying decision alternatives by way probabilistic values, estimated values of outcomes and the depiction of decision trees are essential steps in decision making.
Developing thoroughly: Expected value is ($ 500, 000*0.4) + ($ 25000* 0.4) + (1, 000* 0.2)
Developing rapidly: Expected value is ($ 5000, 000* 0.1) + ($25,000* 0.2) + ($1,000* 0.7)
Strengthening the p...
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