Difference between revisions of "Decision Trees"
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(Replaced content with "Decision Trees Category:mbi Category:Term") Tag: Replaced |
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| − | Decision | + | Decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. A decision tree combines the idea of a [[Probability tree|Probability tree]] with [[Expected value|Expected value]]. |
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| + | A decision tree consists of 3 types of nodes: | ||
| + | 1. Decision nodes - commonly represented by squares | ||
| + | 2. Chance nodes - represented by circles | ||
| + | 3. End nodes - represented by triangles | ||
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| + | <html><img src = "/static/files/MBI/Module%204/decisiontree.png" width="600"/></html> | ||
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| + | Source: http://en.wikipedia.org/wiki/Decision_tree | ||
[[Category:mbi]] | [[Category:mbi]] | ||
[[Category:Term]] | [[Category:Term]] | ||
Latest revision as of 19:54, 27 August 2020
Decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. A decision tree combines the idea of a Probability tree with Expected value.
A decision tree consists of 3 types of nodes: 1. Decision nodes - commonly represented by squares 2. Chance nodes - represented by circles 3. End nodes - represented by triangles
