This case study analyzes the Piezo Power Fabric (PPF) corporation whose senior manager have to make a decision on the site of a manufacturing capability for an complex polymer-based fabric that is at present in the final phases of enlargement and testing, approximated to last…
So far the example fabric has met PPF’s essential performance standards but additional testing will illustrate if it can attain their maximum specification.
Decision hypothesis is a logical and systematic strategy to the analysis of decision making. A fine decision is one that is oriented on logic; reflects on all accessible data and potential alternatives, and the quantitative strategies of data.
In terms of the expected values calculated, and consequent decision, it does not matter if costs are to the left of amount or vice versa; though rationally the costs are incurred prior to the site acquisition revenue is earned so it generates more sense to put expenses to the left of amount.
Clearly nothing will be achieved if PPF management decides not to go on with the project what he needs to find to decide to drill is an EV for this act that is greater than $0. The EV for drilling is $140k so he should drill.
When p (abandoned) = 0 this means the likelihood of it failing to acquire the site and make profit is 1 (i.e. certain) and from the pertinent section of the decision illustration it can be observed that the EV is 1 x -$- £14.8.M
In case of p (maximum) = 1 then there are two potential it can be possible to buy Curie site or delay decision making and maintain Faraday site. These double events are equally exclusive and comprehensive so must add up to 1. To attain this one must normalize the probabilities of buying the Curie site and expanding Faraday site to make them add up to ...
Cite this document
(“Decision tree Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.net/business/621765-decision-tree
(Decision Tree Essay Example | Topics and Well Written Essays - 2000 Words)
“Decision Tree Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.net/business/621765-decision-tree.
The Pareto Analysis makes use of the Pareto Principle that uses the idea that 80% of the advantages of doing any work are derived from doing just 20% of the work. When put in the context of quality improvement, the Pareto Principle argues that key causes (20%) bring about the majority of problems (80%).
Data mining package known as WEKA is used. Main characteristics are demonstrated in the following. J-48: J-48 as a decision tree is discussed. It depends upon the gain ratio in order to split up the attributes by using the depth-first strategy. Leaves are replaced by the sub trees through a pruning method that also reduced the over filtering.
In the case of a marketing decision, the objectives are mostly profit centered though there is always a possibility that decisions are made based on the long term profitability of the company. Secondly, most of the problems need to be broken down into smaller constituent parts that will help in easier analyzing and decision making (Goodwin & Wright, 2004).
In this way, the general amount of equipment sold by our company to the customer network of "ABC" had exceeded 200 pcs. as of six months ago. On the other hand, along with table-top coffee machines "ABC" had traditionally promoted standard base cabinets which, while being less functional, were 45% cheaper.
When put in the context of quality improvement, the Pareto Principle argues that key causes (20%) bring about the majority of problems (80%). This is a formal technique used in organizations where there are many possible causes that are
An image of a decision tree is illustrated below:
The example you mentioned about Gerber products was very insightful and interesting. Managers can use decision trees for a wide variety of applications. As you mentioned in your response a
There are two options that Doug has to go for either to develop the site or sell the site;
Cutler-Hammer was offered an option (at a cost of $50,000) giving it the chance to obtain a license to produce and sell a new flight safety system. The company estimated that if it
It also produces its individual line of products ranging from work boots and sandals to rubber boots and rainwear and sport and adventure wear. The purpose of this memo is to provide recommendations on the best method that Shuzworld should use to manufacture its sneakers, also develops a sales volume forecast, and discusses the best manner in which to apply control chart metrics in an effort to improve on quality.
8 Pages(2000 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Decision tree for FREE!