Tag: Olympic organization
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Develop a decision tree that can be used to solve Chang’s problem. You can assume in this part of the problem that she is using EMV (of her net profit) as a decision criterion. Build the tree so that she can enter any values for p1, p2 , and p3 (in input cells) and automatically see her optimal EMV and optimal strategy from the tree.
Uncertainty Read Case 6.3: Electronic Timing System for Olympics (below). For this assignment, you will assess and use the correct support tool to develop a decision tree as described in Part “a” of Case 6.3 . Analyze and apply the best decision-making process to provide answers and brief explanations for parts “a”, “b”, “c”, and…