Decision and Sensitivity Analysis APP2 Final

Front

What is the probability in the context of decision trees?

Back

The probability of a patient having a specific outcome is calculated by multiplying the probabilities of each arm from the choice node to the terminal node.

Front

What are decision trees?

Back

Decision trees are graphical representations used to make decisions, especially powerful when a sequence of decisions must be made.

Front

Should decision analysis include a decision tree?

Back

True, decision analysis should include a decision tree.

Front

What is the first step in the decision analysis process?

Back

Identify the specific decision.

Front

Which of the following is NOT a step in the decision analysis process?

Back

Minimize costs whenever possible.

Front

What is a decision node in a decision tree?

Back

A decision node represents a point where a choice must be made between different alternatives.

Front

What is a terminal node in a decision tree?

Back

A terminal node represents the final outcome of a decision path in a decision tree.

Front

What is sensitivity analysis?

Back

Sensitivity analysis examines how the variation in the output of a model can be attributed to different variations in the inputs.

Front

Why are decision trees preferred over decision tables in certain situations?

Back

Decision trees provide a clearer visual representation and are especially powerful for sequential decisions.

Front

What is the role of probabilities in decision trees?

Back

Probabilities help quantify the likelihood of different outcomes occurring based on the decisions made.