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i would like to ask what is important to know about decision trees? do we have to know how to draw one or how to interpret it?
Almost certainly you would not have to draw one, but you might have to interpret its finding and what the figures mean.
Thank you for your answer!
i would like to ask you if there is any example about how do we interpret the findings and the figures of a decision tree!It would be the same process as for expected values. The expected value is usually not expected to happen and it does not take into account risk, ie if there were a series of unfortunate events, there could be a large loss, even if the chance of each event occurring is low. It would be like winning a ‘negative’ lottery.
Mariagre, U can go to find the P3 technical articles from ACCA website. There is an article talk about the decision tree…
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