Reference no: EM134442

Quantitative Analysis for Decision Making class

Please write for each summarizing with highlights of the review items and your own comments.

1- Decision Trees are graphic displays of the decision process. When do you feel it is appropriate to use decision trees? Is it more suitable for simple decisions? Complex decisions? Please describe your answers

2- Decision Theory helps executives with identifying values and uncertainties in a decision-making process, which leads to relevant decision-making process, resulting in most optimal decision for the business or process. what is the importance of the decision theory in modern business processes?

3- Search the Internet and the articles database in the library for a real-life example of decision theory. For hint, type the words "Decision Theory" followed by a topic of interest to you. Carefully review the search item.