Topic Four, Part 4 - Decision Trees (Requires Further Revision)

Question 1

What are decision trees?

Answer 1

A diagram that compares all outcomes of multi-stage decisions

Question 2

Why are decision trees used?

Answer 2

To reduce risk

Question 3

What are the advantages of decision trees?

Answer 3

• Show previously unknown possibilities

- Takes decision risks into account

Question 4

What are the disadvantages of decision trees?

Answer 4

• Probabilities are often estimated

- non-numerical factors can be too complex