Question

Discuss the use of EMV (expected monetary value) for solving decision trees. Thinking of examples of decisions you've encountered in your career, do you think EMV is always appropriate? Provide an example of when you think EMV would not be appropriate or there were challenges in using EMV to determine the optimal decision.

Answer 1

EMV(expected monetary value):- It is how much money you can expect to make from a certain decision. rightarrow Decision tree:- A decision tree is a natural and simple way of inducing following kind of rules. It can help decision-makers select the best course of loan rightarrow The use of EMV for solving decision trees is in Decision trees we deals with the different sources they are protection of Human subjects from research risk. inclusion of women plan, inclusion of minorities plan, children inclusion plan, Data and safety monitoring plan ....These all having different kinds of rules and implementation methods among them the main thing is executing the plans as per the scheduling and financials things and outcomes from the source is also important and difficult issue. This complex problem can dealed easily by EMV. It gives the planning section and more expected outcomes from the work to be designed by the experts, so the execution work is easy to implement. EMV is always appropriate . Because