Decision Tree Example
Use immediately

Decision Tree Example

-$ xxx,000

Fire Detector

-$xx,000

Motion Detector

EV = $0

Neither

(0.5) Success

(0.5) Failure

$0

Don't Submit

-$x,000

Submit

(0.7) Success

(0.3) Failure

-$x,000

Submit

&0

Don't Submit

(0.4) Success

(0.6) Failure

EV = $xxx,000

(0.3) Commercial Grade

EV = $ xxx,000

(0.5) Residential Grade

EV = $ xxx,000

(0.2) No Certification

EV = $-xx.000

EV = xxx,000

EV = $xxx,000

EV = xxx,000

Payoff

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

$ 0.0

Decision Tree

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publish time: 2021-05-20
Lisa Anderson

Decision tree analysis involves making a tree-shaped diagram to chart out a course of action or statistical probability analysis. As the diagram suggests, decision trees are used to break down complex problems or branches, and each branch of the decision tree could be a possible outcome. As the diagram suggests, a decision tree template is a graphical depiction of a decision and every potential outcome or result of making that decision. An organization may deploy decision trees as a kind of decision support system. As the following example suggests, the decision tree starts with a fire detector and motion detector, and it shows the steps of submission or doesn’t submit. Use EdrawMax or EdrawMax Online to create decision tree diagrams.

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