Decision analysis in the context of Decision tree


Decision analysis in the context of Decision tree

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⭐ Core Definition: Decision analysis

Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the maximum expected-utility axiom to a well-formed representation of the decision; and for translating the formal representation of a decision and its corresponding recommendation into insight for the decision maker, and other corporate and non-corporate stakeholders.

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πŸ‘‰ Decision analysis in the context of Decision tree

A decision tree is a decision support recursive partitioning structure that uses a tree-like model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. It is one way to display an algorithm that only contains conditional control statements.

Decision trees are commonly used in operations research, specifically in decision analysis, to help identify a strategy most likely to reach a goal, but are also a popular tool in machine learning.

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Decision analysis in the context of Fisheries science

Fisheries science is the academic discipline of managing and understanding fisheries. It is a multidisciplinary science, which draws on the disciplines of limnology, oceanography, freshwater biology, marine biology, meteorology, conservation, ecology, population dynamics, economics, statistics, decision analysis, management, and many others in an attempt to provide an integrated picture of fisheries. In some cases new disciplines have emerged, as in the case of bioeconomics and fisheries law. Because fisheries science is such an all-encompassing field, fisheries scientists often use methods from a broad array of academic disciplines. Over the most recent several decades, there have been declines in fish stocks (populations) in many regions along with increasing concern about the impact of intensive fishing on marine and freshwater biodiversity.

Fisheries science is typically taught in a university setting, and can be the focus of an undergraduate, master's or Ph.D. program. Some universities offer fully integrated programs in fisheries science. Graduates of university fisheries programs typically find employment as scientists, fisheries managers of both recreational and commercial fisheries, researchers, aquaculturists, educators, environmental consultants and planners, conservation officers, and many others.

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Decision analysis in the context of Disappointment

Disappointment is the feeling of dissatisfaction that follows the failure of expectations or hopes to manifest. Similar to regret, it differs in that a person who feels regret focuses primarily on the personal choices that contributed to a poor outcome, while a person feeling disappointment focuses on the outcome itself. It is a source of psychological stress. The study of disappointmentβ€”its causes, impact, and the degree to which individual decisions are motivated by a desire to avoid itβ€”is a focus in the field of decision analysis, as disappointment is, along with regret, one of two primary emotions involved in decision-making.

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