Given the following decision tree, calculate the EMV and the best decision that should be made.OfficeGrowthBUILDEXPANDa. EMV: $393000; Decision: BuildOb. EMV: $522000; Decision: BuildOC. EMV: $915000; Decision Expand and BuildOd EMV: $393000; Decision: ExpandHighDemandLowDemandHighDemandLowDemand60% Probability$650,000 Impact40% Probability$330,000 Impact70% Probability$510,000 Impact30% Probability$120,000 Impact O a. EMV: $393000; Decision: BuildO b. EMV: $522000; Decision: BuildOC. EMV: $915000; Decision Expand and BuildO d. EMV: $393000; Decision: ExpandOe. EMV: $522000; Decision: Expand

Decision-making is the practice of collecting information available in the market for better…

Answered: Given the following decision tree,…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Please help with correct answers! Management Decision Systems (MDS) is a consulting company that specializes in the development of decision support systems. MDS has a four-person team working on a current project with a small company to set up a system that scrapes data from a collection of websites and then automatically generates a report for management on a daily basis. Time (Weeks) Activity Description ImmediatePredecessor Optimistic Most Probable Pessimistic A Report generation 2 9 13 B Web scraping 5 10 12 C Testing A, B 1 1 1 a) Based solely on the critical path, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.) b) Using all paths through the project network, estimate the probability that the project will be complete within 12 weeks. (Round your answer to four decimal places.)
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