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Edexcel A-Level Business A2 3.3.3 3c Decision Tree Limitations Questions

Evaluate the reliability of estimated probabilities and payoffs. Weigh external uncertainty and qualitative factors before judging how far a decision tree should guide a business choice.

Syllabus
First assessment 2019
Course
Business XBS11/YBS11
Level
A2

Exam points

  • Use expected-value comparisons to evaluate the reliability of estimated probabilities and payoffs
  • Explain why a decision tree does not remove uncertainty from external shocks
  • Balance numerical results with qualitative factors when judging the usefulness of a decision tree

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