Step-by-step approach to decision-tree analysis 1. The tree is a diagram setting out the key features of a decision-making problem 2. The tree is shown lying on its side, roots on the left, branches on the right
3. The decision problem is set out from left to right with events laid out in the sequence in which they occur 4.The branches consist of: a) a decision to be made, shown by a square b) chance events or alternatives beyond the decision-maker's control
Comments
No comments have yet been made