What is a decision model? Why is it important to business? What are the three types of inputs common to decision models?

Decision model

What is a decision model? Why is it important to business? What are the three types of inputs common to decision models?

Please use this as 1 of the references

Evans, J. R. (2013). Statistics, data analysis, and decision modeling (5th ed.). Upper Saddle River, NJ: Prentice Hall.

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