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\nUnderstanding Decision Trees: Simplifying the Decision-Making Process\n

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\n\nPublisher:\n\nCurated Video\n\n\n
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\nThe video explains what decision trees are and how they can be used by businesses to simplify and adjust the decision-making process. It discusses the basic framework of decision-making, the net outcome of making a decision, and the...\nThe video explains what decision trees are and how they can be used by businesses to simplify and adjust the decision-making process. It discusses the basic framework of decision-making, the net outcome of making a decision, and the diagrammatic representation of decision trees using nodes and branches. It also raises concerns about the accuracy and reliability of decision trees, potential biases that may be involved, and the static nature of the model. Finally, the video talks about the \"floor of averages\" and how expected outcomes can be the same, but the returns and risks involved can be different, and the logic of human beings in making decisions.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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4:39
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Grade
Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Business\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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business, trees, outcomes, probability
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Additional Tags

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a-level, snapshots, slide, 54, decision, expected outcome, decision node, decision trees, decision branches, outcome, investment, making, meant, adjust, focus, important, made, uncertainty, undertake, show, lots, decisions, crucially, talk, account, make, occur, returning
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Understanding Decision Trees: Simplifying the Decision-Making Process\" href=\"/subscription/new\">\"Understanding\n\n
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