Explain how decision trees work. How can a complex problem be solved by using a decision tree?
Answer to relevant QuestionsWhat are the advantages of using a spreadsheet package to create and solve LP models? What are the disadvantages?What is the difference between decision analysis with a single goal and decision analysis with multiple goals (i.e., criteria)? Explain in detail the difficulties that may arise when analyzing multiple goals.How does a what-if analysis help a decision maker to save on cost?List the advantages and disadvantages of simulation.How are relationships between two variables represented in a causal loop diagram?
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