Jela De Leon
Arceli Fajardo
Auxil Jamorol
Aris Zoleta
Nerisa Torres

Case: Blake Electronics

Statement of the problem:

a. Should Steve contract the services of an outside research agency? b. If survey is warranted, should he employ MAI or I&K? c. Should the new product line be introduced?

Analysis of the problem:

MAI’s proposal directly provides Steve the conditional probabilities he needs such as the probability of a successful venture given a favorable survey. Although the information from Iverstine and Kinard (I&K) is different, we can easily use Bayes’ theory to I&K information to compute the revised probabilities. As such, does not need any additional information from I&K. Steve’s problem involves three decisions. First, should he contract the services of an outside research agency? Second, if a survey is warranted, should he employ MAI or I&K? Third, in any case, should the new product line be introduced?

Alternative Solutions:

If Steve decides not to conduct a survey, the decision is to introduce the product with an EMV of $700,000 [= (0.6)($1,500,000) + (0.4)(-$500,000)]. See page 2 for the decision tree.

If Steve decides to conduct the survey, he has to choose between MAI and I&K. If he chooses MAI for the survey, the best choice is to introduce the product irrespective of whether the survey results are favorable or unfavorable. The EMV is $800,000 if the survey results are favorable, while the EMV is only $200,000 if the survey results are unfavorable. The overall EMV of hiring MAI is $500,000 [= (0.5)($800,000) + (0.5)($200,000)].

If Steve chooses I&K for the survey, the best choice is to introduce the product if survey results are favorable, for an EMV of $940,000. On the other hand, if the survey results are unfavorable, the best decision is to not introduce the product for an EMV of -$300,000 (the cost of the survey). The overall EMV of hiring MAI is $468,800 [= (0.62)($940,000) +...

...Group 2 Module 2
BlakeElectronicsCase Study
(1) Does Steve need additional information from Iverstine and Walker
Our group consensus is that additional information is not needed. We believe that all quantitative information needed to form a decision tree is available in the problem
(2) What would you recommend? In progress… Subject to change based on final tree.
Our group recommends that Steve moves forward with the production of the Master Control Center residential product. We recommend for him to utilize the research services of Marketing Associates, Inc. (MAI). The revised Excel document(attached) shows that the EMV for MAI and Iverstine & Walker are identical ($1.2M). However, when you take into account the cost of each firm the best return on investment is to go with MAI. Of course, Iverstine & Walker have the ability to predict the success or failure of the master control boxes with a greater amount of certainty compared to MAI. Since it was stated in the case that Steve Blake is relatively conservative, perhaps additional analysis is needed to place a price tag on their more-certain information through an Expected Value of Perfect Information (EVPI) analysis. The EVPI may be an unnecessary step since it may not affect our decision
Work
Probability from Blake Internal
P(Successful venture) =
0.6
P(Unsuccessful venture) =
0.4
MAI Probabilities
P(Successful venture...

...Case Study – BlakeElectronics
Decision Making Model
1) Defining the Problem:
Should Steve contract any of the marketing companies that will assess the favorability of introducing the products to the market?
If he will contract any of the two companies, which one would he choose (MAI or I&K)?
Should the new products be even introduced to the market?
2) Developing a Model:
MAI’s proposal directly gives Steve the conditional probabilities he needs - probability of a successful venture given a favorable survey. Although the information from I&K is different, we can easily use Bayes’ theorem to on I&K information to compute the revised probabilities. As such, does not need any additional information from I&K.
3) Acquiring Input Data:
Probabilities:
Cost of introducing the products: $500,000
If successful the product line, increased sales would be $2,000,000
Cost of contracting MAI: $100,000
Cost of contracting I&K: $300,000
4) Developing a Solution:
If Steve decides not to contract the marketing companies for survey, the decision is to introduce the product with an EMV of
Succesful
Unsuccesful
$700,000=
(0.6)
($1,500,000)
+
(0.4)
(-$500,000)
If he chooses MAI for the survey, the best choice is to introduce the product irrespective of whether the survey results are favorable or unfavorable. The EMV is $800,000 if the survey results are favorable, while the EMV is only $200,000 if the survey results are unfavorable....

...Chapter 1 – Introduction to Data Communications
Th is is th e b egin n in g of a cu m u la tive ca s e s tu d y a b ou t a fictit iou s fir m we ca ll Next-Da y Air
S er vice (NDAS ). Th e ca s e s t u d y b egin s h er e in Ch a p ter 1 a n d con tin u es th r ou gh ou t th e r es t of th e
b ook . It r equ ir es you to com p lete ta s k s th a t a r e r ela ted to top ics cover ed in ea ch cor r es p on d in g
ch a p ter of th e text. Th e en d of ea ch ch a p ter con ta in s th e ca s e n a r r a tive, r ela ted figu r es , a n d a s et
of qu es tion s a n d p r ob lem s . Th es e d o n ot h a ve on e u n iqu e s olu t ion . Th er e a r e too m a n y
a lter n a tives wh en d ea lin g with LANs , WANs , MANs , BNs , a n d th e In ter n et, s o a r ea lis t ic n etwor k
d es ign a n d d evelop m en t p rob lem ca n h a ve s evera l wor k a b le a n s wer s .
As with a n y r ea l-life p r ob lem with a m b igu ities or u n r es olved con s id er a tion s , you m u s t m a k e you r
own a s s u m p tion s . Feel fr ee to r ea d a h ea d or u s e th e in d ex to fin d r ela ted s u b jects th a t s u p p or t
you r r ecom m en d a tion s . You r in s tr u ctor m a y p r ovid e a d d ition a l gu id elin es r ega r d in g r ep or t
for m a ts , Web a n d lib r a ry r es ou r ces , k ey a s s u m p tion s , a n d th e lik e for th e va r iou s qu es tion s a n d
p r ob lem s p r es en ted in th is ca s e s tu d y. Be s u r e to p r ovid e a d equ a te ju s tifica t...

...Case: BlakeElectronics
Statement of the problem:
a. Should Steve contract the services of an outside research agency?
b. If survey is warranted, should he employ MAI or I&K?
c. Should the new product line be introduced?
MAI’s proposal directly gives Steve the conditional probabilities he needs (e.g., probability of a
successful venture given a favorable survey). Although the information from Iverstine and Kinard
(I&K) is different, we can easily use Bayes’ theorem to on I&K information to compute the revised probabilities (see file P8-Blake.XLS, sheet
Posterior
). As such, does not need any additionalinformation from I&K.(2)
Steve’s problem involves three decisions. First, should he contract the services
of an outsideresearch agency? Second, if a survey is warranted, should he employ MAI or I&K? Third, in anycase, should the new product line be introduced?
The TreePlan solution for Steve’s problem is shown in file P8
-Blake.XLS.If Steve decides not to conduct a survey, the decision is to introduce the product with an EMV of $700,000 [= (0.6)($1,500,000) + (0.4)(-$500,000)].If Steve decides to conduct the survey, he has to choose between MAI and I&K. If he chooses MAIfor the survey, the best choice is to introduce the product irrespective of whether the survey resultsare favorable or unfavorable. The EMV is $800,000 if the survey results are favorable, while theEMV is only $200,000 if the survey results are...

...Case Study: BlakeElectronicsCASE:
1.) MAI’s proposal directly gives Steve the conditional probabilities he needs (e.g., probability of a
successful venture given a favorable survey). Although the information from Iverstine and Kinard (I&K) is different, we can easily use Bayes’ theorem to on I&K information to compute the revised probabilities. As such, does not need any additional information from I&K.
2.) Steve’s problem involves three decisions. First, should he contract the services of an outside research agency? Second, if a survey is warranted, should he employ MAI or I&K? Third, in any case, should the new product line be introduced?
If Steve decides not to conduct a survey, the decision is to introduce the product with an EMV of $700,000 [= (0.6)($1,500,000) + (0.4)(-$500,000)].
If Steve decides to conduct the survey, he has to choose between MAI and I&K. If he chooses MAI for the survey, the best choice is to introduce the product irrespective of whether the survey results are favorable or unfavorable. The EMV is $800,000 if the survey results are favorable, while the EMV is only $200,000 if the survey results are unfavorable. The overall EMV of hiring MAI is $500,000
[= (0.5)($800,000) + (0.5)($200,000)].
If Steve chooses I&K for the survey, the best choice is to introduce the product if survey results are favorable, for an EMV of $940,000. On the other hand, if the...

...parameter a is called the intercept parameter because it gives the value of Y at the point where the regression line crosses the Y axis. (X is equal to zero at this point.)
The parameter b is called the slope parameter because it gives the slope of the regression line.
The slope of a line measures the rate of change in Y as X changes (AY/AX); it is therefore the change in Y per unit change in X.
The simple regression model is based on a linear relation between Y and X, in large part because estimating the parameters of a linear model is relatively simple statistically. Assuming a linear relation is not overly restrictive. For one thing, many variables are actually linearly related or very nearly linearly related.
For those cases where Y and X are instead related in a curvilinear fashion, you will see that a simple transformation of the variables often makes it possible to model nonlinear relations within the framework of the linear regression model.
A Hypothetical Regression Model
To illustrate the simple regression model, consider a statistical problem facing the Tampa Travel Agents' Association. The Association wishes to determine the mathematical relation between the dollar volume of sales of travel packages (S) and the level of expenditure on newspaper advertising (A) for travel agents located in the Tampa metropolitan area.
Let's define the following relation:
True (or Actual) Relation...

...the archival line of work. The digital age brought about the electronic record which in itself introduced new thoughts and concepts of the whole profession. An upbeat account of the United States Centre for Electronic Records Archive focuses on access and validation strategies. A wider perspective is taken from an Australian viewpoint showing how record keeping is increasingly electronic, but emphasizes the essence of traditional records management and informational skills.
The electronic record reference has become known to be digital reference (or virtual reference), a service by which the archives or a records repository reference service is conducted online, and the reference transaction is a computer based communication. It is the delivery of reference services provided by the archives to users who cannot access or do not want face-to-face communication. This form of reference work expands reference services from the physical reference desk to a "virtual" reference desk where the patron could be writing from home, work or a variety of other locations. Due to the electronic record the centrality of the reference room being the interface between the user and the records is now a notion of the past.
Electronic mail, instant messaging,...

...Samsung Electronics
From Wikipedia, the free encyclopedia
Samsung Electronics Co., Ltd
삼성전자
三星電子
Type
Public
Traded as
KRX: 005930, KRX:005935, LSE: SMSN,LSE: SMSD
Industry
Consumer electronics
Telecoms equipment
Semiconductors
Home appliances
Founded
1969 (Samsung Electric Industries)
1988 (Samsung Electronics)
Headquarters
Suwon, Gyeonggi Province,South Korea
Area served
Worldwide
Key people
Lee Kun-hee
(Chairman)
Lee Jae-yong
(Vice chairman)
Kwon Oh-hyun
(Vice chairman and CEO)
JK Shin
(President)
BK Yoon (President and CEO)
Products
See products listing
Revenue
₩201.103 trillion (2012)[1]
Operating income
US$18.8634614 billion(2012)[1]
Profit
₩23.845 trillion (2012)[1]
Total assets
₩181.071 trillion (2012)[1]
Total equity
₩121.480 trillion (2012)[1]
Employees
326,000 (2014)[1]
Parent
Samsung Group
Website
www.samsung.com
This article contains Korean text.Without proper rendering support, you may see question marks, boxes, or other symbols instead of Hanguland hanja.
Samsung Electronics Co., Ltd. (Korean: 삼성전자; Hanja: 三星電子) is a South Koreanmultinational electronics company headquartered in Suwon, South Korea.[2] It is the flagship subsidiary of the Samsung Group and has been the world's largest information technology company by revenues since 2009.[3] Samsung Electronics has assembly plants and sales networks in...