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Explain the Graphical Shapes Used in Decision Tree Analysis

question 12

Essay

Explain the graphical shapes used in decision tree analysis.


Definitions:

Workers Demanded

Refers to the number of workers that employers are seeking to hire at a given wage and time.

Migration

The movement of people from one place to another for the purpose of settling temporarily or permanently in the new location.

Wage Rate

The amount of compensation a worker receives per unit of time (hourly, weekly, etc.) or per unit of output.

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