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A. Problem Formulation. You work for an engineering firm, with expertise in Decision Analysis, tasked to provide a demonstration for your firm's client, a major land development company in the Detroit area. They are considering (2) options for lakefront development of high-end communities: (50) single, 2-story units ($950,000 each) and (75) duplex 2-story units ($800,000 each). They want a demonstration of how Decision Analysis can help their decision-making in which option to select.
From a preliminary standpoint, the logistics are: 1) Problem Statement; 2) Decision Alternatives; 3) Chance Events; 4) Consequences. To accomplish this, develop an Influence Diagram with nodes (decision, chance, and consequence), arcs, and a Payoff Table (see MS Word attachment for templates). Discuss the steps and outcomes in MS Word, with your own example not found in the text. Include your diagrams.
B. Incorporate a Decision Tree to the scenario you developed for?
Can you apply this to managing your waste from your home? Provide a plan using a table to indicate waste, strategy you would apply and how.
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In this written assignment, the quality of your writing and the application of APA format will be evaluated in addition to your content. Evaluation based on these criteria is designed to help you prepare your college projects
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