Dealing with Uncertainty
Completion requirements
A decision tree is a model of decisions and their outcomes. It has found widespread application because of its ease of implementation. Additionally, its compact tree representation is often useful for visualizing the breadth of possible outcomes.
Conclusion
In this course, you learned how to use probability to quantify uncertainty. Probability enables the decision-maker to calculate a quantity called the expected value, which gives you a quantity that takes account of the differing probabilities of the potential outcomes of an event.
Finally, you learned how to use these ideas in situations where there is a range of possible outcomes, some of which may be dependent on earlier outcomes. The technique used was that of a decision tree.