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Unformatted text preview: tournmament o Or might only analyze the I pay offs if you take job #2 of 4 choices Decision tress merely graphical aid to seeing which outcome has maximum EV o Draw otuu the whole tree, including all the contingent branches o Start collapsing to the left, until you end with only the branches reprepseting first choice o Largetst EV predicts first choice Continue the process o Given the first choice collapse back to the next decision (i.e second choice) Alternatively, can just multiply probabilities along each branch and list the product at the end of the final branch point o If a thing can happen N ways add up all N probabilities to estimate its likelyhood o Equal finality in GSTcan get same place in different ways...
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This note was uploaded on 02/07/2011 for the course COMM 402 taught by Professor Hample during the Spring '10 term at Maryland.
- Spring '10