+1-415-670-9189
info@expertsmind.com
Constructing a decision tree
Course:- Business Management
Reference No.:- EM1378415




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Management

We are considering an event for next June. Assume if we select an outdoor venue, we make 350,000 dollars, but if it rains we lose 40,000. If we select an indoor venue, we make 150,000 rain or not. It rains 1/3 of the night in June.

We can buy a forecast for 15,000. The track record of the forecaste is as follows:

When rain predicted: 80 percent of the time it actually rained, 20% no rain

When no rain predicted: 70% no rain, 30 percent rain.

We need to construct a decision tree to tell whether or not to buy the forecast.

 




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Management) Materials
The purpose of your report is to promote business, not tourism, and to help your boss avoid embarrassment or worse. Prepare a memo report addressed to Dori Lundy, president
How does utilitarianism support the ecological ethic? What is traditional utilitarianism? With traditional utilitarianism, how do you determine what the moral thing to do on
How have laws such as the Americans with Disabilities Act (ADA) and the ADA Amendments Act (ADAAA), Civil Rights Acts, influenced the perception you and others have in relat
Discuss your company's (general electric) primary and secondary target. Describe each target group, demographic profile and provide data on the size of the market.
What types of obstacles/objections do leaders face from stakeholders when implementing change within an organization? What strategies can leaders use to work with stakeholders
Please help me with this essay question: What are some of the differences between Japanese and American communication styles? What can American managers do to improve busine
The manager of a 100-unit apartment complex knows from experience that all units will be occupied if the rent is $500 per month. A market survey suggests that, on average, o
Explain how A hold used promotional allowances to manipulate earnings. Refer to the fraud triangle described in this chapter and analyze the incentives pressures and opportuni