Decision Analysis
- Created by: DashingHero
- Created on: 19-02-13 09:12
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Decision Trees
- The expected moentary value (EMV) is the average gain a person can expect to receive in the long run
- Decision nodes are represented by a rectangle
- Chance nodes are represented by a circle
- The end node is represented by a triangle
- Calulate the EMV by multiplying the possible profit by its probability and add all the respective multiplications up
- To decide the value of the decision…
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