Decision Trees 3.5 / 5 based on 2 ratings ? Business StudiesFinancial PlanningBusiness PlansOperations managementA2/A-levelAQA Created by: lottie2207Created on: 11-01-16 11:46 What is a decision tree? A mathematical model used to help managers make decisions 1 of 5 How do you calculate Expected Value? Financial Value X Probability 2 of 5 How do you calculate Net gain? Total Expected Value - Associated costs 3 of 5 What is Probability? Likelihood of an event occuring 4 of 5 What is a diasdvantage of Decision trees? No external influences considered e.g. PESTLE 5 of 5
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