In this video, learn how to capture the information from a decision tree in one or more Excel tables, which you can use to calculate the expected value of the process.
- [Instructor] A decision tree provides…a visual representation of the paths…that a process can take.…In this movie I will show you how to capture…the information from a decision tree in an Excel table…which you can use to calculate…the expected value of the process.…My workbook is the Decision Tree_02 sample file…which you can find in the chapter four folder…of the exercise files collection.…This workbook contains two elements.…The first is an Excel table in which I will record…the characteristics of the decision tree…and the second is the decision tree itself.…
I have it in fairly small form at the bottom of the screen,…so I will click the edge of the SmartArt…and then I will drag one of the corner handles up…so it is much larger and easier to see,…and I'll drag it a little bit to the right.…So as you can see, we have a decision tree with a project,…number one with node zero…and then there are two first level nodes,…number one and number two.…
Number two is a terminal node, it's at the end of a chain,…so it's a leaf on the tree however node number one…
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- Finding target values using Goal Seek
- Finding a solution using Solver
- Tuning investment portfolios
- Organizing worksheets
- Creating objective and control formulas
- Experimenting with different constraints
- Optimizing resource placement
- Defining decision trees