Decision Tree Analysis: To Undergo or not to Undergo Surgery
Not what you're looking for?
Firm research data are not yet available to predict the likelihood of survival for this 50 year old man. If the internist tells this man that if he elects to avoid surgical treatment of the liver problem, chances of survival will be approximately as follows: only 60% chance of living for 1 year, a 20% chance of surviving for 2 years, a 10% chance for 5 years, and a 10% chance of living to age 58. She places his probability of survival beyond age 58 without a liver transplant to be extremely low.
The transplant operation however, is a serious surgical procedure. 5% of patients die during the operation, with an additional 45% dying during the first year. 20% survive for 5 years, 13% survive for 10 years, and 8%, 5%, and 4% survive, respectively, for 15, 20, and 25 years.
*Please develop a decision tree.
Purchase this Solution
Solution Summary
The solution develops a decision, using the life expectancy of the patient, whether to undergo or not to undergo a liver transplant surgery.
Solution Preview
Please see the attached file for the detailed decision tree analysis.
Without Surgical Treatment
Only 60% chance of living for 1 year
20% chance of surviving for 2 years
10% chance for 5 years
10% chance of living to 8 years (58-50)
Converting this into mathematical format:
Probability multiplied by Year(s) expected to ...
Purchase this Solution
Free BrainMass Quizzes
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Marketing Management Philosophies Quiz
A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.