Since there are so many possible applications for this model, this is great help when trying to explain ones decisions to others as well. As in: How did I arrive at my conclusions and how much cost/benefit did I attribute towards every step to arrive there, and why.
One small note on the final step of “vaccinate” and “not vaccinate”: the total cost of the “vaccinate” branch has to be ≥ 600 shillings, one decimal point must have gotten lost somewhere in the calculation.
You have to replace the right term 599.976 by 599.9976. This makes the sum equal to 600.000079976, or 600.00 if you keep only two digits after the decimal point. Still pretty close to 600 though :)
Since there are so many possible applications for this model, this is great help when trying to explain ones decisions to others as well. As in: How did I arrive at my conclusions and how much cost/benefit did I attribute towards every step to arrive there, and why.
One small note on the final step of “vaccinate” and “not vaccinate”: the total cost of the “vaccinate” branch has to be ≥ 600 shillings, one decimal point must have gotten lost somewhere in the calculation.
It is great for holding discussions when there are more people involved in a decision.
As for the calculation, can you help me spot the mistake? I can’t find it!
(0.000004∗619.994)+(0.999996∗600)=.002479976+599.976=599.98
You have to replace the right term 599.976 by 599.9976. This makes the sum equal to 600.000079976, or 600.00 if you keep only two digits after the decimal point. Still pretty close to 600 though :)
Thanks! I’ve updated the calculation and diagram.