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

First, represent the information on a tree diagram: From the tree diagram, the probability of winning the second set = 27 50 + 10 50 = 37 50.

Conditional probability occurs when it is given that something has happened. (Hint: look for the word “given” in the question. The probability that a tennis player wins the first set of a match is ...

This example illustrates the use of several of the graphics options for producing graphics quality decision tree diagrams. The production manager of a manufacturing company is planning to bid on a ...