MM305 Unit 7 Project : Decision Analysis, Forecasting, and Network Optimization: A Comprehensive College Assignment
Project covering decision analysis, forecasting, and network optimization.
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MM305 Unit 7 Project
1
MM305 Unit 7 Project : Decision Analysis, Forecasting, and Network
Optimization: A Comprehensive College Assignment
Name:
Directions:
In this project you will be using the States Data filethat is found in Doc Sharing
under the Instructor-Graded Projects:
Steps for accessing the States Data file:
1. Open your Excel with PhStat2
2. Click File—Open
3. Select the States Data file
Not all questions require the use of technology or the States Date file.
You may insert your answers, including any charts, graphs, or output, on this
document.
Be sure to put your name on this document and save it to your computer.
1. After careful analysis, Susan developed the following table:
Size of Gasoline Station Good Market ($) Fair Market ($) Poor Market ($)
Small $70,000 $30,000 -$30,000
Medium $110,000 $50,000 -$40,000
Large $170,000 $70,000 -$50,000
1. Develop a decision table for this decision.
Decision Tables
Data
Profit
Favourable
market
Unfavourable
market
Small 70000 -30000
Med 110000 -40000
Large 170000 -50000
Do nothing 0 0
2. What is the Maximax decision?
Data
Profit
Favourable
market Unfavourable market Maximax
Small 70000 -30000 70000
Med 110000 -40000 110000
Large 170000 -50000 170000
1
MM305 Unit 7 Project : Decision Analysis, Forecasting, and Network
Optimization: A Comprehensive College Assignment
Name:
Directions:
In this project you will be using the States Data filethat is found in Doc Sharing
under the Instructor-Graded Projects:
Steps for accessing the States Data file:
1. Open your Excel with PhStat2
2. Click File—Open
3. Select the States Data file
Not all questions require the use of technology or the States Date file.
You may insert your answers, including any charts, graphs, or output, on this
document.
Be sure to put your name on this document and save it to your computer.
1. After careful analysis, Susan developed the following table:
Size of Gasoline Station Good Market ($) Fair Market ($) Poor Market ($)
Small $70,000 $30,000 -$30,000
Medium $110,000 $50,000 -$40,000
Large $170,000 $70,000 -$50,000
1. Develop a decision table for this decision.
Decision Tables
Data
Profit
Favourable
market
Unfavourable
market
Small 70000 -30000
Med 110000 -40000
Large 170000 -50000
Do nothing 0 0
2. What is the Maximax decision?
Data
Profit
Favourable
market Unfavourable market Maximax
Small 70000 -30000 70000
Med 110000 -40000 110000
Large 170000 -50000 170000
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Document Details
University
Kaplan University School of Business and Management
Subject
Business Management