Decision Tree Analysis
In data mining, the decision tree analysis is used to determine the best choice from various possible options. Through this process, researchers and managers get an opportunity to evaluate the risks, benefits and inconsistencies associated with the decisions. The first step is structuring the problems or issues being faced by the organization as a tree. At the end of each branch, all the benefits are listed to help in evaluating the path with the most benefits. After the benefits have been determined, the next step involves assigning subjective probabilities to all the activities on the tree (Qu, Adam, Yasui, Ward, & Cazares, 2002). On each of the choices, the possibilities on risks, errors and ambiguities are listed to help in evaluating the best option.
The benefits of making certain decisions are associated with consequences to develop better comparison strategies that would come up with the best decision. This enhances the decision-making process and enables corporations to develop a model for dealing with the company (Qu, Adam, Yasui, Ward, & Cazares, 2002). The company focuses on the strategies that are in place and the efficiency of the strategies selected. The persons engaged in the process find better means of engaging in the process and develop comparisons based on the models present.
Arts could be used to determine the best way to treat an individual suffering from a chronic illness. Through the strategies used, the illnesses can be determined and a solution pertaining to the patients being treated, found. A more cost effective and efficient approach, in which the detained get their correction in a more economical manner, has been found. Here detained persons get a more practical feeling an...
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...o other methods of data collection. Under this strategy, most individuals can be tested and related to certain illnesses, most of which are genetically motivated (Cavill, Keun, Holmes, LIndon, & Nicholson, 2009). This also assists in the development of curative alternatives, in metabolism and other biological processes. Genetics also helps in analysis and formulation of treatment criteria.
Works Cited
Cavill, R., Keun, H. C., Holmes, E., LIndon, J. C., & Nicholson, J. K. (2009). Genetic Algorithms for Simultaneous Variable and Sample Selection in Metabonomics. Bioinformatics, 25 (1), 112-118.
Qu, Y., Adam, B. L., Yasui, Y., Ward, M., & Cazares, L. H. (2002). Boosted Decision Tree Analysis Of Surface-Enhanced Laser Desorption/Ionization Mass Spectral Serum Profiles Discriminates Prostate Cancer From Noncancer Patients. Clinical Chemistry, 48, 1835-1843.
In 1990, the first great stride of genetics took place. This was called the Human Genome Project, a large-scale operation that was designed to understand the human genome (genetic structure). Since its commencement, there have been many leaps and bounds that have taken place. For certain genetic issues that we once knew nothing about, we no...
Advantages of genetic testing may be helpful in determining whether or not you have a disease or are proba...
In Gattaca, the plot focuses on the ethics, the risks, and the emotional impact of genetic testing in the nearby future. The film was released in the 90s; yet in the present, the film does not give the impression of science fiction. Today, genetic testing is prevalent in many aspects of the scientific community. This paper will describe genetic testing, its purpose, diagnostic techniques that use genetic testing, relating Huntington’s disease to genetic testing, and the pros and cons of genetic testing.
Even though a myriad of tools and techniques learnt in the Strategic Cost Management and Strategic Business Analysis courses are not fully exploited in this essay, it is generally recognised that those techniques are useful for a corporate to formulate strategy, do strategic planning, control costing and quality, as well as eventually elevate its values, regardless the nature and size of organizations.
...hich inherited traits, such as those for genetic disease, can be tracked over generations. Throughout out the course of human development, scientists will continue to find new new ways to help the human race through the discovery of the human gene inside of each of us, its uses, as well as complications, that can help the survival of our species.
Genetic Screening is a medical test that examines ones DNA. It can find mutations in chromosomes, genes, and proteins. These tests can confirm or refute a suspected genetic condition that could become a serious problem for one in the future. They can also help figure out a persons probability of getting certain diseases or sicknesses like cancer or diabetes. ( What is Genetic Testing?, para 1) There is also carrier testing which can be used to see what diseases couples may carry before having children. (What are the benefits of genetic testing? Para 1)
There was a time many years ago when the passing of a relative always seemed to be the eldest member of the family such as the grandmother, grandfather, great-grandmother or great-grandfather. Not too many times would one see a young person die or being killed very often. In the song “The Leaning Tree”, gospel artist Win Thompkins addresses this as no longer being true because young people are dying just about everyday. Throughout the song , he states that “the leaning tree” ,symbolizing an older person, is not always the first to fall or in other words die. Thompkins also states throughout the song that anyone’s time could be soon no matter the age or condition. He then shares a brief story about a righteous old man who saw his children pass
First, let's consider the situations in which genetic testing would be beneficial to patients. Genetic testing for diseases that are preventable or treatable could allow individuals to alter their lifestyles so as to treat the disease or reduce their risk of developing the disease. For instance, the E2 version of the APOE gene, which is found on chromosome 19, has been linked to heart disease (Ridley, 1999). Individuals who have two copies of the E2 gene are particularly sensitive to high-fat and high-cholesterol diets. Therefore, a genetic test to determine whether a person has the high-risk version of the APOE gene could inform a person of future health risks, thereby allowing the person to change his diet to help prev...
Companies. Retrieved July 4, 2008, from University of Phoenix, MMPBL-501 Web site. University of Phoenix . ( 2008). Economics for Managerial Decision Making
The strategic recommendations provided will improve and enable the business to cope with the competitors, while the implementation of the strategy section will outline the way to go about achieving these alternatives in the business setting. Lastly, we put up a discussion on the evaluation procedures and necessary controls for the business. In the case study, it was discovered that there were sources of opportunities in which the company would invest.
• Hitt, Michael A; Hokisson, Robert E.; Ireland, RD. Strategic Management. 6th Ed., Masson, Ohio: Souht. Wester 2005.
The problem solving and decision-making processes are commonly used in management throughout all business models. Both processes share a similar uniqueness by combining an analysis and perception along with systems and outcomes. Much like the steps of the decision-making process, problem solving also follows a similar sequence of steps. Despite the fact that problem solving and decision-making are somewhat related, they are completely different. The main difference between the two is that problem solving is considered to be a method whereas decision making is more of a process. Management uses problem solving to reach a resolution with hope of achieving a positive outcome. Decision-making is frequently used during problem solving to help reach a resolution. Decision-making generates criteria for problem solving and develops alternative solutions. It also evaluates possible solutions and chooses from among the solutions (Huitt, 1992).
Studies have also shown that genetics also plays a part in illnesses and diseases that c...
Strategic management is a disciplined effort or control to make necessary decisions that have an effect on a business or an organization; the aim of strategic management is mainly to develop new, innovative or diverse ideas and opportunities for potential or development, and facilitates or assists an organization to achieve its goals (SM, 2010). In reality, strategic management not only can be used or applied to determine mission, vision and values or objectives, but it also establishes roles and responsibilities or timelines in a business (David, 2009). In the following sections, this study will focus on and examine the nature of strategy formulation, implementation, and evaluation activities, and analyze the potential pitfalls or risks in using a strategic-management approach to decision making.
Therefore, to achieve this objective, managers have to make choices in decision-making, which is the process of selecting a course of action from two or more alternatives (Weihrich & Koontz; 1994, 199). A sound decision making requires extensive knowledge of economic theory and the tools of economic analysis, that are directly related in the process of decision-making. Since managerial economics is concerned with such economic theories and tools of analysis, it is very relevant to the managerial decision-making process.