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Decision Tree (DT) Approach

A decision tree shows the sequence of possible managerial decisions and their expected outcome under each set of circumstances or state of nature.

According to Khan and Jain,” A decision tree is a picturial representation in tree from which indicates the magnitude, probability and inter-relationship of all possible out comes.”

According to I.M. Pandey,” a decision tree is a graphic display of the relationship between a present decision and future events, future decisions and their consequence. The sequence of events is mapped out overtime in a for mate similar to the branches of tree.”


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