In a Decision Tree, the Only Time Probabilities Are Applied

question 44

True/False

In a decision tree, the only time probabilities are applied to a decision node is when the decision is being made by someone else such as you customer or your competitor.

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Definitions:

Insourcing

involves bringing processes or services back in-house, which were previously outsourced to external companies.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business operation.

Foreign Subsidiary

A company that is owned or controlled by another company, known as the parent company, but operates in a country different from where the parent company is established.

Franchising

The payment of a fee to a foreign business for rights to locally operate using its name, branding, and methods.