FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -A decision tree is a mathematical model used to help managers make decisions. A decision tree uses estimates and probabilities to calculate likely outcomes. A decision tree helps to decide whether the net gain from a decision is worthwhile.

Detailed explanation-2: -A probability tree diagram is a handy visual tool that you can use to calculate probabilities for both dependent and independent events. To calculate probability outcomes, multiply the probability values of the connected branches. To calculate the probability of multiple outcomes, add the probabilities together.

Detailed explanation-3: -Once you know the cost of each outcome and the probability it will occur, you can calculate the expected value of each outcome using the following formula: Expected value (EV) = (First possible outcome x Likelihood of outcome) + (Second possible outcome x Likelihood of outcome)-Cost.

Detailed explanation-4: -A decision tree is a non-parametric supervised learning algorithm, which is utilized for both classification and regression tasks. It has a hierarchical, tree structure, which consists of a root node, branches, internal nodes and leaf nodes.