decision tree's

Question 1

what are decision tree’s?

Answer 1

a mathematical model that is used to help business decided on the most worthwhile business investment/decision.

Question 2

how does it make this decision?

Answer 2

it uses probabilities and estimations to calculate the likely outcomes.

Question 3

what is the “square” on a decision tree?

Answer 3

the decision that is to be made

Question 4

what is the first step?

Answer 4

putting all the possible outcomes to achieve the achieve the objective. for example if you wanted to increase sales, your’re outcome or options may be “cutting costs” or “introducing a loyalty card”.

Question 5

what is a circle?

Answer 5

it represents the uncertain outcomes of the decision.