One of the most important components of decision making is process organization. Using a decision tree to choose between different courses of action presents possible outcomes in graphic form, making ...

Business owners have to make decisions every day on issues fraught with uncertainty. Information is not perfect, and the best choice is not always clear. One way to handle these vague situations is to ...

For example, you might want to predict the sex of a person (male or female) based on their age, state where they live, income and political leaning. There are many other techniques for binary ...

Decision trees are useful for relatively small datasets that have a relatively simple underlying structure, and when the trained model must be easily interpretable, explains Dr. James McCaffrey of ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Many scientific problems entail labeling data items with one of a given, finite set of classes based on features of the data items. For example, oncologists classify tumors as different known cancer ...