ABSTRACT
The decision tree is a popular tool for sharing information inasmuch as it allows for clear and effective presentation of risk information and clarifies potential outcomes. To create decision trees properly, it’s important to know how to conceive them and how those conceptions have an impact on the interpretation of risks and decisions. A critical component of decision tree analysis is expected value. Every decision has an outcome and something will happen as a result of the decision. It’s up to us to determine whether we can live with that outcome. The decision is depicted by a box with multiple “choice” arrows protruding from it. According to the decision tree, the best option is quitting. In the real world, however, myriad other factors come into play.
