Definition of Decision tree

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Reference no: EM132358268 , Length: 12 Pages

Questions -

1. Definition of Decision tree?

2. Feature of decision theory problem?

3. Typical examples of management decision theory?

4. Steps involve in solving decision problem?

5. Decision making under both certainty and uncertainty?

6. Handling decision problem involving single decision and sequence of decision. eg Use of payoff table (decision matrix) and decision tree?

7. Various decision tree rules? eg Maximum rule (Wald criterion) Hurwicz criterion and minimax regret rule (Savage criterion) with relevant illustration?

Note: It should be conceptual and organized into three section: Introduction, Literature review(with Illustration were applicable) and conclusion. Not exceeding 12 pages.

Reference no: EM132358268

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