Decision Trees

In this video we explore the role of decision trees and explain how they are laid out and calculated.
#aqabusiness #edexcelbusiness #decisiontrees #alevelbusiness
VIDEO CHAPTERS
0:00 Introduction
0:23 What is a Decision Tree?
0:47 How Does a Decision Tree Work?
1:29 The 4 Step Approach to Decision Trees
2:32 Step One: Identify the Options
2:54 Step Two: Add Possible Outcomes (note: circles represent uncertain outcomes)
3:23 Step Three: Add associated costs, outcome probabilities and financial results for each outcome
4:14 Reminder: What is Probability?
4:39 Quick Challenge on Probabilities
7:21 Calculations Involved in the Decision Tree
7:45 Decision Tree: Simple Example
8:53 Putting the Data into Joseph's Decision Tree
9:48 Calculate the Expected Values and Net Gains
11:44 Final Challenge - Quick Calculation
12:57 Final Thoughts on Decision Trees

[@tutor2u-official]

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[@c-notethelastgreatest4298]

Where did you get 50,000 from low rate

[@leslieballes2107]

@@c-notethelastgreatest4298 idfk this video is so fucking stupid i hate being assigned this shit

[@c-notethelastgreatest4298]

@@leslieballes2107 he explained it do you know how to make a decision tree?

[@c-notethelastgreatest4298]

@@leslieballes2107 what are you working on?

[@SandlisWorld]

Thank you so much! I had difficulties understanding what the book said about the calculations of decision trees but you made me understand it so easily! Thank you!!!

[@tutor2u-official]

Glad it was helpful!

[@hinanihal67]

Thanks! The best video lessons for Business A levels and IB

[@tutor2u-official]

You're very welcome!

[@austinwachira5185]

Great explanation in the video. Thanks!

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[@jonathanpilmore7140]

Brilliant vids!

[@sukd2669]

good thorough video.

[@gracetanguy1522]

Thanks.very helpful

[@tutor2u-official]

You can find more about decision trees from the tutor2u website www.tutor2u.net/business/reference/decision-trees

[@juwairiyaazmi8411]

THANK YOU SO MUCH

[@tutor2u-official]

You're welcome!

[@tatendamutazu3423]

Man said less than 10%

[@benr2780]

He was right, Chelsea won it

[@adwoaosei1184]

I finally get it 😂

[@seenoevilcheng]

Can please enlighten me how did you arrive at 330k and 290k for the net gain? I calculated 270k and 210k, though the final option would still be X. Please correct me if I am wrong. Thanks. Look forward to your reply.

[@c-notethelastgreatest4298]

James Robinson Where did 50,000 come from is that wrong because I see 150,000 divided by 2 is 75,000??

[@arasru6762]

Sir please provide this documents link

[@srikrishsanthosh6898]

decent.

[@annettephillip8241]

Don't understand how the 0.2 and 0.4 came about🤷‍♀️

[@gracetanguy1522]

Total probability is always assumed to be 1.therefore if the probality of success is 0.8,therefore the probability of failure will be =total probability minus the probability of success.
1-0.8=0.2
1-0.6=0.4
Hope this helps you

[@c-notethelastgreatest4298]

Grace tanguy please help where did he get 50,000 from in low pay?