I have this decision making problem. I have to do a tree plan in
excel.
- Hello I Have This Decision Making Problem I Have To Do A Tree Plan In Excel 1 (93.5 KiB) Viewed 84 times
Hello I have this decision making problem. I have to do a tree plan in excel.
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answerhappygod
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Hello I have this decision making problem. I have to do a tree plan in excel.
Hello
I have this decision making problem. I have to do a tree plan in
excel.
Payoff (in $ million) from Not Defective the contract if the supplied Defective material is $11 -$4 Inspectors fee $0.4 Your company is facing a major decision. You are about to make a supply contract with an overseas supplier. If everything goes as promised, you are estimating that your company can make quite a large profit- but only if the material supplied are of good quality. If they are not, you think your company will lose a lot. You hear a from your industry sources that, in the past, four out of five lots from this supplier have been of good quality. You have an opportunity to send a team of your people ("inspectors") to check up on their operations overseas. There will be a cost for that. Suppose you estimate that even when the overseas manufacturing is of highest caliber, your team may, with probability 0.15, declare that the operation is inadequate. Furthermore, if the operation is truly inadequate, your team may, with probability of 0.1 declare that operation is of highest caliber. What should you do?
I have this decision making problem. I have to do a tree plan in
excel.
Payoff (in $ million) from Not Defective the contract if the supplied Defective material is $11 -$4 Inspectors fee $0.4 Your company is facing a major decision. You are about to make a supply contract with an overseas supplier. If everything goes as promised, you are estimating that your company can make quite a large profit- but only if the material supplied are of good quality. If they are not, you think your company will lose a lot. You hear a from your industry sources that, in the past, four out of five lots from this supplier have been of good quality. You have an opportunity to send a team of your people ("inspectors") to check up on their operations overseas. There will be a cost for that. Suppose you estimate that even when the overseas manufacturing is of highest caliber, your team may, with probability 0.15, declare that the operation is inadequate. Furthermore, if the operation is truly inadequate, your team may, with probability of 0.1 declare that operation is of highest caliber. What should you do?