This assignment involves creating 3 Decision Trees based on if you have no info, imperfect info, or...

Question

This assignment involves creating 3 Decision Trees based on if you have no info, imperfect info, or perfect info with a brief analysis on these. I have attached a couple examples of decisions trees to see what they're looking for. The decisions trees do not need to be fancy, could simply be pen & paper sketch or could be a computer generated graphic. Below is the deliverable requests which is also on the final page of the case.

"Analyze the decision scenario using a series of decision models, including the following: (1) a decision model corresponding to no advanced information about inputs’ molecular structure, (2) a decision model corresponding to the imperfect information about inputs’ molecular structure (as described in the case), and (3) a decision model corresponding to perfect information about inputs’ molecular structure.

The goal of your analysis is to support the decision of a risk-neutral decision-maker trying to (1) identify what processes he/she/they should use given available information and (2) assess the value of different types of information (i.e., imperfect vs. perfect)."

vbp-case-2urnytgk.pdf example-of-decision-tree-hlmjgeoe.jpg example-2-of-decision-tree-y3pfqlas.jpg

Banasree · Accepted Answer

2
A.  A series of decision models
1.Ans.
Decision model with no advanced information about input's molecular structure:
2.Ans.
A decision model corresponding to the imperfect information about inputs’ molecular
structure (as described in the case),
3.Ans.
A decision model corresponding to perfect information about inputs’ molecular structure
B. Models to support the decision of a risk-neutral decision-maker
1.Ans.
Identify what processes he/she/they should use given available informationIF Yes
Go ahead with the product
IF No
2. Ans.
Assess the value of different types of information (i.e., imperfect vs. perfect).
End Process
End Process
Assess the Quality Control
No
Yes
Meets the requirements
Testing
Prioritization
Estimate the likelihood of success
IF No
End Process
Use the product
Inputs meets the requirements
If Perfect
References:

This assignment involves creating 3 Decision Trees based on if you have no info, imperfect info, or perfect info with a brief analysis on these. I have attached a couple examples of decisions trees to...

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