Explore BrainMass
Share

Solutions oriented decision models

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Scorecard Paper

Consider the problem of where two couples should eat dinner. Two members of the group are vegetarian, and one does not drink alcohol.

Create a 2-3 page scorecard paper including the following details:
•The range of outcomes
•Probability of each outcome
•Objectives expected

Recommend a decision based on your scorecard.

Present the paper in Microsoft Office Word document format.

All written assignments and responses should follow APA rules for attributing sources.
Articles and books references please not just websites.

© BrainMass Inc. brainmass.com October 25, 2018, 9:56 am ad1c9bdddf
https://brainmass.com/business/market-research/solutions-oriented-decision-models-592189

Solution Preview

In accordance with BrainMass standards this is not a hand in ready paper but only background help.

Step 1
The restaurant where the couple goes can be either a vegetarian restaurant or a non vegetarian restaurant, and it can either serve alcohol or not serve alcohol. The ranges of outcomes are that all members eat and drink, two members eat/ four members drink, and two members eat/ three members drink. We have assumed that the couples do not know if the restaurant where they will eat dinner is vegetarian or serves alcohol. We also assume that in a non vegetarian restaurant the vegetarian members will not eat and in an alcohol serving restaurant the one member that does not drink alcohol will not drink.

Step 2
The probability that the restaurant is vegetarian is 0.5. The probability that the restaurant serves alcohol is 0.5. ...

Solution Summary

This solution explains solutions oriented decision models. The sources used are also included in the solution.

$2.19
See Also This Related BrainMass Solution

Wal-Mart: Solution-Oriented Decision Models

Select a real company (not a retailer). Identify 4 decisions that the company makes at different levels of the organization. Describe the policies, procedures and decision-making tools that might be used to make each of the four decisions. In each case, explain why the decision-making methodology would be appropriate to this specific company's strategy.
For example, Wal-Mart makes decisions about:
a) where to locate new stores;
b) which additional businesses to include in its stores (travel agent, bank, optician, etc.);
c) specific products to discontinue selling;
d) who to hire (and fire);
e) how many cash registers to have open at any given time;
f) accepting a specific item for customer return (for example, an article of clothing that appears to have been worn).

Who would make these decisions? What criteria would they use? How might the criteria have been established? Would they use any kind of quantitative analysis? If so, which specific quantitative methods might be appropriate? How much discretion would the decision-makers have? Who would review or evaluate their decisions?

The process must - at some point - identify some alternatives (no less than 2, and no more than 6) and a way of choosing just ONE of them.

View Full Posting Details