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Quantitative Methods For Decision Making (MBA) Assignment II (Group Assignment) at December, 2021

1. The document discusses a quantitative methods assignment involving decision making for a college president launching a new branch. It includes a payoff table with potential department choices and their earnings under different demand scenarios. It asks to identify optimal decisions using different criteria, including expected monetary value and expected opportunity loss. 2. The second question involves constructing a network diagram and calculating critical paths for a project with multiple activities. 3. The third question analyzes strategies and payoffs for two competing breweries, and asks to identify dominant strategies, expected gains, expected losses, and the type of game theory scenario.

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Aklilu Tadesse
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753 views3 pages

Quantitative Methods For Decision Making (MBA) Assignment II (Group Assignment) at December, 2021

1. The document discusses a quantitative methods assignment involving decision making for a college president launching a new branch. It includes a payoff table with potential department choices and their earnings under different demand scenarios. It asks to identify optimal decisions using different criteria, including expected monetary value and expected opportunity loss. 2. The second question involves constructing a network diagram and calculating critical paths for a project with multiple activities. 3. The third question analyzes strategies and payoffs for two competing breweries, and asks to identify dominant strategies, expected gains, expected losses, and the type of game theory scenario.

Uploaded by

Aklilu Tadesse
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Select College.

Ayertena Campus

Quantitative Methods for Decision Making (MBA)

Assignment II (Group Assignment) @ December, 2021

1. Mr. X is a College president. He wanted to launch new college branch and open one best
academic department in the new branch since 2012 E.C. In view of the fact that the new branch has the
same demand and payoff situation with the present, he wants to employ the following data of the
former branch as an input. The decision table for Mr. X conditional value is shown in the following
payoff table.

Act Demand

Low Medium High

BA-In Accounting 150,000 200,000 230,000

BA-In management 100,000 250,000 200,000

BA-In marketing 140,000 130,000 120,000

Question A

a) What is your pessimistic decision?

b) What is your optimistic decision?

c) What is your decision based on Hurwicz criterion with α =0.75 for favorable marker.

d) What is your decision based on the savage criterion?

Question B: If the probability of each state of nature is 0.3,0.4, and 0.3 for low, medium, and high
demand respectively; find the optimal decision via:

a) EMV b) EOL c) Decision Tree graphical diagram

1. ABC College has a project plan to develop new system for online Registration and online reposting
the students’ grade report. The required types of activities and the time which is required to do each
task are well identified as indicated in the table. Answer the following questions based on the given
table.

Activity Predecessor Activity time (Weeks)

A None 4

B A 13

C B 10

D A 7

E D 9

F E 3

G C, F 11

Total 57

A. Construct the project network Diagram using Activity on Node (AON).

B. Determine the critical path

C. Determine the Earliest Start, Earliest Finish, Latest Start and Latest Finish times

2. Habesha Brewery and St. George Brewery companies are stiff competitor to increase their
market share in the industry using the following marketing strategies. The amount of payoff from each
strategy is indicated below:

Strategies of Habesha Strategies of St. George Brewery company


Brewery company
Price discount Advertisements Public relation

Price discount 3 6 10

Advertisements 11 9 4
Public relation 5 2 8

A. Find dominating strategy for each Company.

B. Calculate the expected gain for offensive company (Habesha).

C. Calculate the expected loss for defensive company (St. George).

D. Determine the type of strategy existed in this game theory

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