I teach business decision-making courses and most of the analytical methods that I work with, with which I work with R. Also, in my consulting practice. One of the modules of the course is “Decision Analysis”. I was looking for a package in R that provides this type of probabilistic type of expected value, expected type of utility.
On the R-development site, the last entry I saw on this issue (since 2011) says that R is not very good at this type of analysis. This is still the case or there are packages that provide this functionality.
If not, I will try to put something together after completing my current programming / recording project.
In addition, I am interested in decision trees (not clusters or other classification trees), but trees that share the probabilities and results of the decision chain. Anything in R other than rpart? There is a lot in Excel, but I'm trying to wean students from Excel and make them think more about what they are trying to achieve.
Thanks for the help.
Jim hunter
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