Subjective Probabilities

Decision Trees
A Decision Tree is a graphical representation used for making decisions and mapping possible outcomes based on different choices. The tree structure allows for evaluating the impact of decisions and estimating their probabilities and expected values.
Subjective Probabilities
Subjective probabilities represent individual beliefs about the likelihood of an event occurring, differing from objective probabilities that are based on statistical evidence.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.