Tree diagrams, also known as probability trees or decision trees, are quite versatile and may be useful in many fields, including finance.

A tree diagram is a visual means of representing complex processes or problems in a hierarchical structure. It is made up of nodes and branches, where the nodes represent a problem’s elements and the ...

Learn about finding probabilities from Venn diagrams with this BBC Bitesize Maths article. For students between the ages of 11 and 14.

For any event that has multiple outcomes with different probabilities, it can be helpful and illustrative to construct a chart or diagram of the possible outcomes. Tree diagrams are a useful ...

Tree diagrams help many students to understand the concept of conditional probability and apply it for problem solving, but is not so effective to many others especially those less prepared ones.

Learn how to effectively elicit probabilities in decision modeling with influence diagrams using interval probability (IP) concept. Our approach simplifies the process for experts and is applicable in ...