One important option and tool in this case is a decision tree. Decision trees are ideal when there are cases of many possible outcomes.
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BIAM 570 Week 5 Lab Pay Off Matrix and Decision Trees DeVry
Scenario/Summary
In the realm of business, there are many
options to help managers and leaders develop good decisions based on data
analysis outcomes and associated risk. One important option and tool in this
case is a decision tree. Decision trees are ideal when there are cases of many
possible outcomes. They provide an organized structure that allows managers and
leaders to examine these possible results while making decisions based on the
options available from the outcomes. In other words, a decision tree is like a
visual map of potential roadways for actions to take.
After you are done, you will submit your completed Lab.
Deliverables
After completing the steps from the lab instructions,
turn in one Microsoft
Word and one Microsoft
Excel file.
Rename both assignment files as Week_5_Lab_StudentName.docx and Week_5_Lab_StudentName.xlsx.
Lab Resources
This Lab will use the following Lab Resources:
- Microsoft Office Word and Excel
2016
Go to Course Resources, Lab Resources, and click the
Virtual Lab Citrix button.
Options for accessing Microsoft Word and
Excel 2016
- Use a personal copy on your PC available via the Software Store on
the Course Resources page.
- You can use the Citrix environment to run both the
Word and Excel 2016 application program.
Lab Steps
Step 1: Download Lab Instructions
Download the Week 5 Lab Instructions and Grading Rubric
document (Links to an external site.)Links to an
external site..
Step 2: Complete the Lab and Submit
After completing the steps from the Lab
Instructions, turn in one Microsoft Word and one Microsoft Excel file.
Be sure you have renamed both assignment
files as
Week_5_Lab_StudentName.docx;
and
Week_5_Lab_StudentName.xlsx.
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