Decision tree for Android

11 things about Decision tree

1. The expected value is a decision criterion that takes into account both the possible outcomes for each decision alternative in the decision tree and the probability that each outcome will occur.

2. To decide which alternative to select in a decision problem, the Decision tree app uses a specific decision criterion, i.e. a rule for decision making.

3. Leverage the effectiveness of decision making by applying a decision tree, a proven analytical approach that provides clarity and leads to informed decisions in the midst of uncertainty.

4. The expected value for an uncertain alternative is calculated by multiplying each possible outcome of the uncertain alternative by its probability and adding the results together.

5. The top left node in a decision tree is called the root node and contains the main problem to be solved by the decision tree.

6. The complexity of decisions involving significant uncertainty brings challenges such as unpredictable consequences, multi-layered factors, potential reduction of uncertainty through additional information and the influence of the decision maker's attitude to risk.

7. Finally, the net profit (net value) is shown at the bottom of the outcome of the tree for each possible combination of alternative and outcome.

8. -Specify nominal profit values and probabilities for each outcome to refine the decision criteria.

9. The complete specification of all preferred decisions in a sequential decision problem is called a decision strategy and can be called up via the Decision strategy button.

10. -Construct sequential decision chains that allow subsequent decisions based on specific outcomes.

11. -Enter the cost of each alternative to accurately assess the impact of the decision.