Decision Tree (100 points)
The supplement to Chapter 5 in your textbook describes and develops several decision trees. In a 4-5-page paper, not including the cover and reference pages, develop a decision tree for a work or personal decision that you must make. Explain the process of developing a decision tree, and your specific case. You must have at least three Decision Points, and three Chance Events. As shown in the Risk Precis video in your module lecture, make sure to parameterize the outcomes, determine the expected value, and defend your final decision based on your decision tree.
Free decision tree software is available to help you construct your decision tree:
- SmartDraw – https://www.smartdraw.com/decision-tree/decision-tree-maker.htm
- Lucidchart – https://www.lucidchart.com/pages/planning/decision-tree-examples
Be sure to use at least two current, scholarly references beyond any required course readings. Current sources are those published within the most recent five-year period, and scholarly sources are those from peer-reviewed journals.
Make certain for each listed reference that you have at least one supporting citation in the body of your content. Your reference page is always the last page of the submission where all individual references get listed.