On a decision tree, once the tree has been drawn and the payoffs and probabilities have been placed on the tree,the analysis (computing EMV

Question

On a decision tree, once the tree has been drawn and the payoffs and probabilities have been placed on the tree,the analysis (computing EMVs and selecting the best alternative)
a. is done by working backward (starting on the right and
moving to the left).
b. is done by working forward (starting on the left and
moving to the right).
c. is done by starting at the top of the tree and moving
down.
d. is done by starting at the bottom of the tree and
moving up

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Katherine 4 weeks 2021-09-28T16:37:00+00:00 1 Answer 0

Answers ( )

    0
    2021-09-28T16:38:15+00:00

    Answer:

    A. is done by working backward (starting on the right and

    moving to the left).

    Step-by-step explanation:

    First expected monetary value is calculated for each state of nature node and then best EMV is selected on each decision node by going backwards from right to left.

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