July 2025
Beginner to intermediate
448 pages
15h 1m
English
Content preview from Statistics Every Programmer Needs
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10 Building and plotting a decision tree
This chapter covers
- Decision-making with and without probabilities
- Maximax and Maximin methods
- Minimax Regret method
- Expected Value method
- Decision trees
Decision-making is a critical process in both personal and professional contexts, where the stakes can be incredibly high—whether it’s managing large sums of money, making career-defining choices, or navigating situations where people’s lives are at risk. In such scenarios, an analytical and systematic approach to decision-making is not just beneficial but essential. Throughout this chapter, we will explore various decision-making methods, with a particular focus on building and plotting decision trees. Unlike the decision trees used in machine ...
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