It represent points of uncertainty where various possible outcomes or states of nature exist. 1 pointBranchesChance NodesDecision Criteria

The text you provided seems to be incomplete and lacks context. However, it appears to be discussing elements of decision tree analysis in business or economics.

1. Branches: These are the various options or decisions that can be made. They are represented as lines stemming from a node.

2. Chance Nodes: These represent points of uncertainty where various possible outcomes or states of nature exist. They are typically represented as circles.

3. Decision Criteria: This refers to the rules or guidelines based on which a decision is made. It could be based on the highest expected monetary value, the highest expected utility, or other criteria depending on the context.

Please provide more information or clarify your question for a more accurate response.