Question: 1) 2) Select the least accurate statement. A decision tree is a graphical tool used to represent decision problems. Decision trees trace paths of decisions

1) 2) Select the least accurate statement. A

Select the least accurate statement. A decision tree is a graphical tool used to represent decision problems. Decision trees trace paths of decisions and possible outcomes with associated probabilities. A risk profile for a decision shows the probability distribution of monetary outcomes. Precision Tree is an Excel add-in that helps with the creation and analysis of decision trees. Decision trees cannot be used to model problems with uncertainty. Consider the following table of possible future profit with corresponding probabilities: Strong market Fair market Weak market Profit 200 100 -100 Probability 20% 50% 30% The expected profit is (rounded to nearest integer): 60 O 67 O 70 90 O 120

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