Using TreePlan in Decision Analysis
2. Explain the idea and benefits of using decision trees versus decision tables.
3. Show how to develop a simple decision tree.
4. Discuss the elements of decision trees: decision node, chance node, terminal node, arcs.
4. The students need to download TreePlan from the web site.
5. Explain to the students how to apply this add-in in developing decision trees and solving them.
6. The students work on creating and solving a decision tree utilizing TreePlan.
7. The instructor shows how to do a one-way and two-way sensitivity analysis utilizing TreePlan. The students do a similar sensitivity analysis with TreePlan.
2. How to develop a decision tree
3. Download and install TreePlan
4. Use Treeplan in developing and solving decision tree models
2. Applying Excel and add-ins to construct and solve decision trees.