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Decision & Risk Analysis Influence Diagrams, Decision Trees Reference: Clement & Reilly. Making Hard Decisions, 2nd ed. Chapter 3. Duxbury, 2001 NOTE: Some materials for this presentation courtesy
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What is influence diagrams decision trees?
Influence diagrams and decision trees are graphical tools used in decision analysis to visually represent decision problems, uncertainties, and potential outcomes.
Who is required to file influence diagrams decision trees?
Decision makers in various fields such as business, finance, engineering, and healthcare may be required to use influence diagrams and decision trees.
How to fill out influence diagrams decision trees?
Influence diagrams and decision trees are filled out by identifying decision points, uncertainties, and possible outcomes, and assigning probabilities and values to each scenario.
What is the purpose of influence diagrams decision trees?
The purpose of influence diagrams and decision trees is to help decision makers analyze complex decision problems, weigh uncertainties, and make informed choices based on probabilities and payoffs.
What information must be reported on influence diagrams decision trees?
Information such as decision alternatives, probabilities of events, different decision paths, and payoffs must be reported on influence diagrams and decision trees.
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