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Decision Tree 1

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Published on Jul 23, 2013

Decision tree example - Smith Industries - with market research. This is the first out of two videos and shows how to set up and use the tree to determine optimal strategy.

Table of Contents
0:00 Introduction
2:49 Summary of Steps
3:34 1. Draw the Tree
5:53 2. Assign Data
9:07 3. Compare Node Values
13:02 4. Optimal Decision Strategy

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