IST378-01 Problem Solving and Risk Management

Assignment 3: Decision Trees in Decision Making

Purpose of the Assignment:

The purpose of Assignment 3 is to help you with a better understanding of the decision trees in decision making.

Requirements of the Assignment:

1)   First, define a decision tree and its basic elements, using an example to show the basic elements used when visualizing a choice;

2)   Then, discuss the applications for decision tree analysis in decision making, providing four examples for a better understanding of the applications;

3)   Also, discuss at least five advantages and five problems/limitations of using the decision tree as a technique in decision making.

Write  a  short  report  in  APA  (American  Psychology  Association)  style  that  provides  detailed descriptions on what you have come up with. It should include the following:

•   Your name and course information

•   Title of your report

•   Body of your report

•   References (if you have any)

This short report counts 5% of your final grade.

You need to save the assignment with the file name: IST378-01 Assignment 3 Your Name. Not doing so will result in points deduction.

Grading Criteria:

Grades will be based on:

•   The correctness and appropriateness of the answers in your report (80%).

•   The quality and clarity of the structure in your report (20%).

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