Final answer:
Ratio/range analysis is not a probability analysis tool; it is primarily used in financial analysis. Decision tree and PERT simulation are probability analysis tools, whereas PERT is a project management tool that doesn't incorporate probability on its own.
Step-by-step explanation:
The question you have asked is related to tools used for probability analysis in decision-making or project management. Out of the options provided, the one that is not a probability analysis tool is: A. Ratio/range analysis. Below is a brief description of each of the mentioned tools:
- Decision tree: A graphical representation of various possible solutions to a decision based on different sequences of events.
- PERT simulation: A project management tool that incorporates probability to account for uncertainties in project scheduling.
- PERT (Program Evaluation and Review Technique): A methodology used in project management that involves planning and coordination of tasks but on its own, does not directly include probability analysis like the PERT simulation does.
Therefore, Ratio/range analysis is not primarily associated with probability analysis but rather with financial analysis, which is why it is the correct answer to the question of which is not a probability analysis tool.