FINAL PROJECT FOR DECISION ANALYSIS—BUSINESS 143

11 Jul FINAL PROJECT FOR DECISION ANALYSIS—BUSINESS 143

The following questions are the final project. Please answer all the questions. Also, provide all of the computation-graphs, decision trees and flow charts where appropriate. The final project is to be done in a professional manner (remove all glaring errors, appearances and make sure to proof read your project before submission). Remember, this project is worth 50% of your grade. The group project is due on Tuesday, March 21, 2017 at 7:00 pm.

1. Ethics and Morality

There was a discussion on ethics and morality in business. The emphasis of this discussion was one’s obligation in the workplace. The major obligation discussed was one’s legal obligation to respect individual liberties of others in terms of privacy, First Amendment (religion, speech, press and assembly) and discrimination). Also there was a discussion on legal theories (fraud, fiduciary duties, confidentiality, disclosure, loyalty, due diligence in decision making). Your assignment in this area is to rank in importance respect for individual liberties and rank in importance legal theories. Provide a brief discussion on how you rank these obligation and also provide a weight for each.

2. Leadership

There was a discussion leadership. Five theories were discussed. The first theory was the trait theory. The trait theory had sixteen (16) traits. Choose seven traits (7) and rank the chosen traits in order of importance and explain why you rank them accordingly. Also, there were four (4) other theories (situational, behavioral, contingency and situational). Choose one of the remaining theories and apply the theory to your own personal leadership style and provide an explanation.

3. Heuristics

Apply “heuristics” used for decisions used in decisions involving multiple objectives in deciding your next vacation spot during the spring break. You must choose among the following:

a. San Francisco, Ca.

b. Miami, Florida

c. Las Vegas, Nevada

d. Cancun, Mexico

e. San Diego, California

f. Los Angeles, California

Apply all heuristic theories and explain each.

4. SMART

Cummland Corporation has its research and development department in Detroit, Michigan. Detroit, Michigan does not have a very big tech industry. Cummland wants to install more technological innovations in its automobile. Cummland knows that the research and development technicians needs to be in close collaboration with other technical firms. Cummland has decided that the following cities have a strong tech base industry:

San Francisco, California

Los Angeles, California

San Diego, California

Seattle, Washington

Cummland will have to relocate 35 technicians.

Applying the SMART analysis, in developing a decision tree, quantitative and non- quantitative what is the optimal location. Remember to include all calculations.

5. Analytical Hierarchy Approach.

Convert the SMART Analysis in 4 to the Analytical Hierarchy Approach.

6. Decision Analysis-Probability

Ace is a manufacture of action figures. Ace has the following options:

Figure A- 5 million if high demand, 3 million if moderate demand, -1 million if low demand. Figure B-8 million if high demand, 4 million if moderate demand, -2million if low demand.

Figure C-12 million if high demand, 4 million if moderate demand, -4 if low demand.

Provide a decision tree for Ace. Also compute the expected monetary value and utility function for Ace and choose the most optimal solution.