Using decision tree-identify and comment on best decision

Assignment Help Operation Management
Reference no: EM132230944

A man works for a software company. He requests a pay rise of 10000 pounds. But before doing that he considers the advantages of taking a course to improve his chances - he would have to pay for it himself, though. For 3000 pounds he has an option that can get him a certificate in writing code. Then for 5000 pounds he can do the first module of a more advanced programming course. On the other hand he could decide not to do anything and just apply with his current qualifications. He can only do one course at a time but if he does the first module of the programming course, he can do another module afterwards - this costs 2000 pounds but first he would have to pass the first module before being accepted onto the second.

With no further qualifications the probability of a rise is 0.2. This increases to 0.4 if he passes the code writing course. If he passes the first module of the programming course his chances go up to 0.6, and if he has both the first and second module it would be 0.8

If he fails the course the probability of getting a pay rise is the same as if he hadn't done the course in the first place. He has a probability of passing the code writing and first module of 0.9 and the second module of 0.8

a) Using a decision tree, identify and comment on the best decision for him. Consider two years as the time frame for your analysis.

Reference no: EM132230944

Questions Cloud

Prepare report about current ethical issue : To assist with your inquiries about ethics in business you are asked to prepare a report about a current ethical issue which affects any well-known company
Facilitate alliance development : Explain the most important tools and techniques that facilitate alliance development?
Connect the function of procurement to each of the reasons : Name and discuss the five reasons for keeping inventory. Make sure to connect the function of procurement to each of the reasons.
Important reasons for pursuing worldwide sourcing today : Discuss what are the five most important reasons a for pursuing worldwide sourcing today?
Using decision tree-identify and comment on best decision : Using a decision tree, identify and comment on the best decision for him. Consider two years as the time frame for your analysis.
How does it organize-communicate its policies and practices : What is driving the company to implement environmental sustainability practices? How does it organize / communicate its policies and practices?
Deciding whether fast or slow approach to change is best : What are the factors to consider in deciding whether a fast or slow approach to change is best?
Description of companies in context with their market share : List of companies operating in the country and a brief description of the companies in context with their Market share etc.in the country.
What is the probability that abe will pick up iridium bit : What is the probability that Abe will pick up an Iridium bit? What is the probability that Maisie will pick up at least one Iridium bit?

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd