Podcast
Questions and Answers
What is the graphical approach used to present a payoff table or decision table?
What is the graphical approach used to present a payoff table or decision table?
- Flow chart
- State of nature diagram
- Payoff table
- Decision tree (correct)
What shape is used to represent the state of nature point in a decision tree?
What shape is used to represent the state of nature point in a decision tree?
- Triangle
- Circle (correct)
- Rectangle
- Arrow
What is the direction of computation when calculating the EMV of an alternative or event in a decision tree?
What is the direction of computation when calculating the EMV of an alternative or event in a decision tree?
- Right to left (correct)
- Bottom to top
- Top to bottom
- Left to right
What is one of the domains where decision trees are used for classification tasks?
What is one of the domains where decision trees are used for classification tasks?
What is one of the applications of decision trees in finance?
What is one of the applications of decision trees in finance?
What is one of the benefits of using decision trees in decision analysis?
What is one of the benefits of using decision trees in decision analysis?
What is one of the applications of decision trees in the healthcare industry?
What is one of the applications of decision trees in the healthcare industry?
What is one of the benefits of using decision trees in manufacturing quality control?
What is one of the benefits of using decision trees in manufacturing quality control?
What is one of the challenges of using decision trees?
What is one of the challenges of using decision trees?
What is one of the advantages of decision trees?
What is one of the advantages of decision trees?
What is one of the applications of decision trees in manufacturing?
What is one of the applications of decision trees in manufacturing?
What is one of the challenges of using decision trees with continuous variables?
What is one of the challenges of using decision trees with continuous variables?
