Question: Expected values may be difficult or costly to estimate. In order to use a decision tree to analyze a business problem, you need to determine

Expected values may be difficult or costly to estimate. In order to use a decision tree to analyze a business problem, you need to determine the following:

- The different decision choices

- The probabilities for each branch

- The payoffs for each outcome

Which of the above would be the hardest to determine? Please explain why?

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