Solution-Determine of chance probability and respective

Determine of chance probability and respective payoffs

Reference no: EM13770515

A General Manger of Harley-Davidson has to decide on the size of a new facility. The GM has narrowed the choices to two: large facility or small facility. The company has collected information on the payoffs. It now has to decide which option is the best using probability analysis, the decision tree model, and expected monetary value.

Facility	Demand Options	Probability	Actions	Expected Payoffs
Large	Low Demand	0.4	Do Nothing	($10)
	Low Demand	0.4	Reduce Prices	$50
	High Demand	0.6		$70
Small	Low Demand	0.4		$40
	High Demand	0.6	Do Nothing	$40
	High Demand	0.6	Overtime	$50
	High Demand	0.6	Expand	$55

Draw the decision tree.

Determine of chance probability and respective payoffs.

Determine of Expected Value of each alternative Build Small.

Reference no: EM13770515

Questions Cloud

Outline a financial plan for your small business : Referring to the same business you either started or purchased in the first assignment, write a 6-8 page paper in which you: Outline a financial plan for your small business.

Research cases of lawsuits related to water damage : Research cases of lawsuits related to water damage on a building project due to leaks, Who were the related parties - owner, architect, contractor , sub, other

Maintaining terrestrial and atmospheric resources : As Newly elected Mayor of Sparksville, the town's citizens are eager to hear what you plan on doing to promote the local economy while maintaining a high level of environmental air quality.

Write client-server classes to calculate the sum : Write client-server classes to calculate the sum of 1 + 2 + 3 + ...+ nwith rmi APIs for one client and one server. The calculation of sum must be written in a remote method in the server programs.

Determine of chance probability and respective payoffs : Draw the decision tree - Determine of chance probability and respective payoffs.

Describe application purpose : Write a 700- to 1,050-word paper on a specific web or mobile application. Describe that application's purpose. How is it used? What changes has it brought about to its users?

Discuss some of the pros and cons of plea bargaining : Discuss some of the pros and cons of plea bargaining (and any others you might be able to think of). If it were feasible within our system, would you support a ban on plea bargains

Define a trade deficit and a trade surplus : Define a trade deficit and a trade surplus. What are the implications of a long-term trade deficit or trade surplus? What techniques are available to correct balance of payment deficit or surplus?

Drawbacks of biofuels-nuclear power or reprocessing : Locate recent peer reviewed article (preferably less than five years old and at least five pages long) related to an environmental issue. Please provide a brief review of the article (not the full review that you will write in your article critiqu..

User Account

All Pages

Determine of chance probability and respective payoffs

Reference no: EM13770515

Reference no: EM13770515

Questions Cloud

Reviews

Write a Review

Basic Statistics Questions & Answers

Statistics-probability assignment

What is the least number

Determine the value of k

What is the probability

Binomial distributions

Caselet on mcdonald’s vs. burger king - waiting time

Generate descriptive statistics

Sampling variability and standard error

Estimate the population mean

Conduct a marketing experiment

Find out the probability

Linear programming models

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT