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2. What is a decision tree?

  • A way of mindmapping revision
  • A mathematical model used to help managers make decisions
  • A way of showing cash flow over monthly periods
  • Model which shows historical revenues and profit

3. What is a diasdvantage of Decision trees?

  • Only shows an optimistic view
  • No external influences considered e.g. PESTLE
  • Hard to understand and compare
  • Not supported by numerical outcomes

4. Which is an advantage of decision trees?

  • Shows risks and costs
  • Not prone to bias
  • Probabilities are deffinate values
  • Shows social impact

5. How do you calculate Net gain?

  • Total Expected Value - Associated costs
  • Total expected Value X Probability
  • Financial Value X Probability
  • Financial Outcome - costs
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