Add Papers Marked0
Paper checked off!

Marked works

Viewed0

Viewed works

Shopping Cart0
Paper added to shopping cart!

Shopping Cart

Register Now

internet library
Atlants.lv library
FAQ
1,99 € Add to cart
Add to Wish List
Want cheaper?
ID number:646306
 
Evaluation:
Published: 01.12.1996.
Language: English
Level: Secondary school
Literature: n/a
References: Not used
Extract

Decision-making takes place against a background of uncertainty about the future course of events. Consequently, in making decisions known costs are compared with expected pay-offs in the future. Decision trees provide a logical process for decision-making. The decision problem can be set out in the form of a diagram, like a tree on its side. It can take into account the occasions when chance will determine the outcome. Chance can be estimated by assigning probability. While the estimate of the probability may only be a guess, at least probability is quantitative and gives the decision process a scientific quality.
The kinds of problems which are suited to decision tree analysis are those where a sequence of events or options has to be followed in conditions of uncertainty. The types of decisions that lend themselves to the decision tree technique include:
Whether to introduce a new product or continue with existing products;
Whether to launch a new advertising campaign or continue with existing products;
Whether to sell off assets for a known price or continue to use them in conditions of uncertainty;
Whether to expand in one location or another.

Work pack:
GREAT DEAL buying in a pack your savings −3,48 €
Work pack Nr. 1263624
Load more similar papers

Atlants

Choose Authorization Method

Email & Password

Email & Password

Wrong e-mail adress or password!
Log In

Forgot your password?

Draugiem.pase
Facebook

Not registered yet?

Register and redeem free papers!

To receive free papers from Atlants.com it is necessary to register. It's quick and will only take a few seconds.

If you have already registered, simply to access the free content.

Cancel Register