The circles (or nodes) on a decision tree show what?

The range of possible outcomes for an option

Which is in the right order?

Possible actions, chance events, outcomes, values assigned

Which is NOT true of a decision tree?

Lowest numerical value highlights the best decision

A decision tree is used to...

Give a suggested outcome based on reward and probability

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AQA Business - Review Questions

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Answers

1
On a decision tree a square shows what?
The expected value of a decision
The possible outcomes of a choice
A decision has to be made
The probability of an outcome
2
What type of data do decision making trees use?
Last years
Qualitative
Quantitive
External
3
Which of the following is a disadvantage of using decision trees
All of the above
Time consuming
Impractical for making on-the-spot decisions
Client care is never constant
4
Who uses decision trees?
Customers
Managers
The government
IB Business students
5
Factors other than decision trees can impact the end decision
True
False
6
What factors do decision trees take into account?
Risk factors
Environmental factors
Financial
Company missions
7
When using a decision tree managers should choose the option with the...
Highest number of outcomes
Highest net gain
Highest cost
Highest expected value
8
Dividing in mutually exclusive groups where distance is measured with respect to all variables
Data Mining
Clustering
Classification
Decision making
9
What must all the probabilities in a branch always add up to?
-1
1
10
100
10
What is the combination used for in decision trees?
Statistics and probability
Financial and probability
Information and probability
Financial and statistics
11
What does a branch represent in a decision tree?
Decision makers
A category in the classification
Value of an attribute
Test of an attribute
12
The circles (or nodes) on a decision tree show what?
The range of possible outcomes for an option
The range of options to chose from
The cost of the option
How probable an outcome is
13
Which is in the right order?
Chance events, outcomes, values assigned, possible actions
Possible actions, values assigned, chance events, outcomes
Values assigned, chance events, outcomes, possible actions
Possible actions, chance events, outcomes, values assigned
14
Which is NOT true of a decision tree?
Lowest numerical value highlights the best decision
Assists decision-making in clinical practice
Problem solving, rationale approach
Numerical values calculated for weight
15
A decision tree is used to...
Give a suggested outcome based on reward and probability
Grow money for financial investments
Provide a project planning tool
Provide an answer for a business option
16
What type of decision making are decision trees based upon?
Mathematical
A hunch
Meeting Objectives
Scientific
17
Can a decision tree be biased
Yes
No
18
Which factor would NOT influence a managers decision?
Business values
Wrong calculations
Time spent
Personal preference

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