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Renesmee Corporation is a chemical company. The research and development manager is trying to decide whether or not to develop a new solvent that would work at all conditions. It is thought that the solvent project may be a major success with an estimated value of $ 500,000, a moderate success with an estimated value of $200,000 since it can be sold to another company to help with its current project or a total failure. If the project is a failure it will cost the company $450,000.Based on the subjective judgment of the manager, the following probabilities are assigned to the three possibilities. P (major success) = 0.40 P (moderate success) = 0.30 P (failure) = 0.30 a) Construct a decision tree for this problem. What is the optimal decision strategy and its expected value? b) What is the expected value of perfect information? Explain what it means.
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A state statute empowered public school principals to suspend students for up to ten days without any notice or hearing. A student who was suspended for ten days challenges the con
As a manager, you are expected to make logical, rational decisions that are in the best interests of the organization. However, the best decision isn't always made. Let's discuss w
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1. What is the role of a CIO in today's global business environment? 2. Dr. Carr presents a good argument in the "IT doesn't matter" reading. Present your view of Carr's central
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