Describes and develops several decision trees. In a paper, develop a decision tree for a work or personal decision that you must make. Explain the process of developing a decision tree, and your specific case. You must have at least three Decision Points, and three Chance Events. As shown in the Risk Precis video in your module lecture, make sure to parameterize the outcomes, determine the expected value, and defend your final decision based on your decision tree. Free decision tree software is available to help you construct your decision tree: SmartDraw - https://www.smartdraw.com/decision-tree/decision-tree-maker.htm Lucidchart - https://www.lucidchart.com/pages/planning/decision-tree-examples

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Reliability and Decision Theory Introduction A decision tree analysis is said to be a graphical representation of the various possible alternatives which are available to solve a given problem The man... View the full answer