Determine the best decision

Reference no: EM1321096

Question: Micro comp is a United State based manufacturer of personal computers. It is planning to build a new manufacturing & distributions facility in South Korea, China, Taiwan, the Philippines, or Mexico. It will take approximately five years to build the necessary infrastructure (roads, etc), construct new facility, & put it into operation. The eventual cost of the facility will differ between countries & will even vary within countries depending on the financial, labor, & political climate, including monetary exchange rates. The company has estimated the facility cost [$1,000,000s] in each country under three different future economic & political climates, as follows

	Economic/Political	Climate
Project	Decline	Same	Improve
South Korea	21.7	19.1	15.2
China	19.0	18.5	17.6
Taiwan	19.2	17.1	14.9
Philippines	22.5	16.8	13.8
Mexico	25.0	21.2	12.5

Determine the best decision, using the following decision criteria.

[A] Hurwicz (α = 0.4)

[B] Equal Likelihood

[C] Minimin

[D] Minimax

Reference no: EM1321096

Questions Cloud

Secondary risks arising when dealing with identified risks : During the course of the Implementation step, new risks may be identified or we may find secondary risks arising when dealing with identified risks that occur.

The cost per unit of producing product : The cost per unit of producing each product will be determined by whether a new union labor contract passes or fails. The cost per unit of each product, giving each contract result is shown in the following pay off table.

Test using two sample independent z test : At 95% level of confidence, can we conclude that the babies using the Gibbs product gained less weight?

Practice of downloading or copying multimedia content : How has education affected your views about the practice of downloading or copying multimedia content in these fields? What collaboration tools have you used in your work environment or personal life?

Determine the best decision : Determine the best decision, using the following decision criteria.

Examples of an advertisement : First, discuss the difference between the 3 different types of warranties and then draft three different examples of an advertisement that uses an express warranty, a disclaimer, and puffing language.

Find the tailed test and test statistic : The sample mean is 2.59 and the sample standard deviation is .66. Conduct the following test using 95% level of confidence.

Use of ethical standards in management communications : Relate an organizational example of the use or lack of use of ethical standards in management communications. The example may be from your own workplace or from a business situation with which you are familiar.

Calculate the correlation coefficient for the linear trend : Calculate the correlation coefficient for the linear trend line forecast & describe its meaning.

User Account

All Pages