Task
The midterm assessment will consist of writing a 2000-word report in which you are required to provide a critical discussion on the various steps required for effective decision-making. You may focus on any decision-making model as discussed in class, but it is critical that you provide an in-depth discussion of the various steps involved in effective decision-making. This individual assignment requires you the deliverables stated below:
EACH PROBLEM SHOULD BE A BUSINESS PROBLEM AND PART 1 IN PART 2 SHOULD BE DIFFERENT PROBLEMS
Part1:
· You must identify the problem you need to solve or the question you need to answer. Clearly define the problem.
· Explained the reason/s that cause this problem.
· Identify different alternatives (at least two).
· Evaluate the alternatives and weigh the evidence (the forecasting (percentage) of success or failure of the alternative).
· Present and develop a decision tree for your alternatives (it must have the complete information and calculation, also you have to present the standard decision tree)
· Clearly present posterior probability, then explain the new information that you received. Then present conditional information, joint probability, and posterior probability). Explain what your decision for this problem is.
Part 2:
· Identify a problem and explain the reasons, then develop the scenario planning step by step for this situation.
· By considering all factors and your scenario planning, summarize your final decision.
· The report must have a table of contents.
· You should submit your report in pdf format
Formalities:
· 2000 words
· Cover, Table of Contents, References, and Appendix are excluded from the total word count.
· Font: Arial 12,5 pts.
· Text alignment: Justified.
· The in-text References and the Bibliography have to be in Harvard’s citation style.
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Turnitin Report
Formatting
Title Page
Citation
Outline
