Topic Four, Part 4 - Decision Trees (Requires Further Revision) Flashcards
1
Q
What are decision trees?
A
A diagram that compares all outcomes of multi-stage decisions
2
Q
Why are decision trees used?
A
To reduce risk
3
Q
What are the advantages of decision trees?
A
- Show previously unknown possibilities
- Takes decision risks into account
4
Q
What are the disadvantages of decision trees?
A
- Probabilities are often estimated
- non-numerical factors can be too complex