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

<<image /static/filesMBI/Module%204/decisiontree.png width:600>>

Source: http://en.wikipedia.org/wiki/Decision_tree
bag
mbi_public
created
Fri, 13 Jan 2012 12:26:12 GMT
creator
dirkjan
modified
Fri, 13 Jan 2012 12:26:12 GMT
modifier
dirkjan
tags
Term
creator
dirkjan