DECISION TREES Flashcards by Deleted Deleted

Q

What are decision trees?

A

They are a probability tool designed to help simplify decisions. It can help businesses decide wether to remain small or grow.

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Q

PROs of Decision Trees

A

Easy to visualize, understand and interpret.
Fast and efficient
Choices are set out in a logical way

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Q

CONs of Decision Trees

A

It all just a probability. Always prone to error.
Quantitative data only
Assignment of probabilities and expected values are prone to bias

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