Construct and submit a Decision Tree that depicts the information provided in the case to either continue developing a new software product or to abandon the project due to its high cost and uncertain market potential. In addition, you must provide an explanation of your decision tree and support your decision with the literature.

A manufacturing company must decide whether to manufacture a component part at its Milan, Michigan, plant or purchase the component part from a supplier. The resulting profit is dependent upon the demand for the product. The following payoff table shows the projected profit (in thousands of dollars). State of Nature Decision Low Alternative Demand $1 Medium Demand $2 High Demand 53 Manufacture, d -5 55 115 Purchase, d₂ 60 85 The state-of-nature probabilities are P(s₁) = 0.35, P(52) = 0.35, and P(53) = 0.30. (a) Use a decision tree to recommend a decision. The best decision is to purchase the component part. (b) Use EVPI to determine whether the company should attempt to obtain a better estimate of demand, assuming the estimate would come at no further cost. EVPI = 9 The EVPI suggests that the company should consider an attempt to obtain a better estimate of demand. (c) A test market study of the potential demand for the product is expected to report either a favorable (F) or…

Outline and discuss the elements of a probabilistic decision model.List the main shortcomings of this approach to decision making.

Which types of decisions should the decision trees be used to address for?

If goods are specially manufactured, unique, or rare, a buyer may have the right to specific performance.​   Group of answer choices   True or False

elect a Balanced Scorecard publicly available on the internet and discuss how it can benefit the entity and any concerns you have regarding how this particular scorecard could potentially not benefit the entity or in fact add negative value to the entity. Financial Component of Scorecard IF OPTION 1 (FOUND A SCORECARD) Clear, detailed explanation of the strengths and potential weaknesses of this component of the scorecard. Learning and Growth Component of Scorecard IF OPTION 1 (FOUND A SCORECARD) Clear, detailed explanation of the strengths and potential weaknesses of this component of the scorecard. Customer Perspective Component of Scorecard IF OPTION 1 (FOUND A SCORECARD) Clear, detailed explanation of the strengths and potential weaknesses of this component of the scorecard. Customer Perspective Component of Scorecard IF OPTION 1 (FOUND A SCORECARD) Clear, detailed explanation of the strengths and potential weaknesses of this component of the scorecard. Internal Processes Component…

Select the ADKAR diagnostic model. You are looking at the Drury hotel parts and strategies for this analysis. Here's what to do: Apply the congruence diagnosis model to the Drury hotels change.The drury hotel scheduled reopening of the hotel in summer 2016 after rennovations.  analyzing and apply congruence diagnosis modelthe appropriate chosen model.  Identify potential areas of resistance that may occur and at least one strategy to respond to each. Make recommendations for further actions within the organizations and the rationale chosen for these recommendations.

What is the most appropriate research hypothesis for the following scenario?  “Historically, the mortality rate for particular type of brain surgery is 10%.  A new, simpler technique has been developed that may reduce the mortality rate?   Group of answer choices 1. Ho:  σ2 ≤ 10% 2. Ho:  π ≤ 10% 3. Ho:    µ ≤ 10% 4. Ho:    µ1 ≤  µ2 5. Ho:  π1 ≤ π2

When an organization has historical data from last 5 years. Now management wants to processes these data so they get help in designing new products based on customer and market feedback. Please describe the appropriate technique you want to use to support management decision making.

State the differences between decision making under certainty, under risk, and under uncertainty.