1
Q
what are decision trees
A
they are diagrams that illustrate the choices and possible outcomes of a decision. these possible outcomes are usually given associated probabilities of occurrence.
2
Q
how to calc decision trees outcomes
A
multiple the percentages out success or failure by the potential income
3
Q
why is perfect information important for firms
A
the better the prediction and closer to 100 percent accurate it is, the more benefit can be gained from it
4
Q
how do we calculate perfect information
A
expected profit WITH the information
LESS
expected profit without the information
bl
flashcards
Decks in class (23)
# Cards
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PM specialist cost and management accounting techniques12
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pm scma environmental accounting9
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decision making techniques limiting factor analysis6
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pm scma target costing8
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pm scma life cycle costing7
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throughput accounting16
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decision making techniques limiting factor analysis15
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pricing decisions20
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payoff table6
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decision trees4
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methods of uncertainty reduction4
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cvp analysis20
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short term decision making12
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budgeting30
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budgeting methods21
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standard costing4
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variance analysis35
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material mix and yield variances12
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performance measurement and control34
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performance measurement and control 238
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Information, technotechnologies and systems for organizational performance55
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p210
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exam misc9
