Part 2. MM4XL Tools > 1. Strategic Tools > Decision Tree > 3. Anatomy of a Decision Tree > 2. Decision Trees > Chance Node

Decision Tree

Chance Node

Chance nodes (pink circles), sometimes also called even nodes, represent uncertain events and their probability of occurrence. In our example there is a 1% probability (cell C1) of winning $100 (C2) and 99% (C5) probability of losing all (C6). The sum of the probabilities of a chance node must add to 1, otherwise formulae return an error.

Decision Tree Software for Business and Management Model Making

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