Decision Tree Basics
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Questions and Answers

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?

  • Triangle
  • Circle (correct)
  • Rectangle
  • Arrow

    • 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?

    <p>Machine learning</p> Signup and view all the answers

    What is one of the applications of decision trees in finance?

    <p>Stock market prediction</p> Signup and view all the answers

    What is one of the benefits of using decision trees in decision analysis?

    <p>Evaluating different courses of action</p> Signup and view all the answers

    What is one of the applications of decision trees in the healthcare industry?

    <p>Disease diagnosis and treatment planning</p> Signup and view all the answers

    What is one of the benefits of using decision trees in manufacturing quality control?

    <p>Identifying the root cause of malfunctions</p> Signup and view all the answers

    What is one of the challenges of using decision trees?

    <p>Prone to overfitting</p> Signup and view all the answers

    What is one of the advantages of decision trees?

    <p>Easy to interpret</p> Signup and view all the answers

    What is one of the applications of decision trees in manufacturing?

    <p>Fault diagnosis and troubleshooting</p> Signup and view all the answers

    What is one of the challenges of using decision trees with continuous variables?

    <p>They typically require discretizing continuous variables</p> Signup and view all the answers

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