Decision-Making Techniques

The purpose of this assignment is to show how business decisions can be made by using rigorous decision-making techniques.

 

Complete Chapter 14 Problems 4, 7, 9, 10, and 13 from the textbook, using the student data files provided in the Course Materials, as directed.

 

Submit the Excel outputs required for each problem. Note that Excel files are to include all Solver settings, functions, and formulas used to generate the problem solutions.

 

Submit a narrative to discuss the optimal solution for each problem in a Word document.

 

In addition, write a 250-word executive summary related to Problem 13. Describe various ways the Tall Oaks Wood Products Company can formulate the future source of timber supply for the company’s operations over the next 10 years. Justify your answer according to the maximax decision rule, maximin decision rule, minimax regret decision rule, EMV decision rule, the EOL decision rule, and the decision tree.

 

Submit your executive summary and associated Microsoft Excel files to the instructor.

 

APA style is not required, but solid academic writing is expected.

 

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

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