Analyzing Sequential Decisions
Discuss the importance of a decision tree in the modeling process. Search for available tools or add-ins are available for Microsoft Excel to assist with the decision tree process, like Excel “SmartArt” (using insert tab), or Excel QM. What is the benefit of using such tools in creating decision trees in Excel? What are some of the drawbacks or issues? Feel free to share any practical experiences or examples of decision trees you may have used at work.
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