In last month’s article, we touched on the importance of probability in our daily lives. We shared brain teasers and non-intuitive facts that highlighted how an understanding of probability can help ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

Decision tree analysis is a method of constructing a decision tree, which is a detailed representation of numerous potential solutions that can be utilized to address a specific problem to choose the ...

Decision trees are useful modeling tools to help you make decisions. Decision trees offer a structure to organize options and help you understand the possible results of choosing specific options.

Quality forecasts and evaluations depend upon well-designed project and portfolio models that are based upon clear decision policy, sound professional judgments, and a good decision process. In this ...

A detailed model was developed that integrates projected costs for more than 60 possible treatment outcomes. It incorporates primary, adjuvant, and salvage chemotherapy, primary and postchemotherapy ...