and that his fall could have been prevented if Mr. Munster had told Spacely Construction about the problem. Mr. Munster notified his insurance company‚ Dewey‚ Cheatem and Howe Insurance (DCH)‚ of the lawsuit. DCH must defend Mr. Munster and decide what action to take regarding the lawsuit. George Jetson offered to accept a settlement of $750‚000 which is one option. DCH is also considering a counteroffer of $400‚000 hoping that he will accept this amount to avoid the time and expenses of a trial. There
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Decision Tree A decision tree is a schematic tree shaped diagram which is used to determine a course of action or statistical probability. Each branch of the decision tree represents a possible decision or occurrence. A decision tree is important to use when planning the festival because we be able to see all of the possible outcomes for all of the options before investing and going ahead with them. From the decision tree we will be able to see how much can be made and how much can be lost when investing
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Decision Tree Analysis Choosing Between Options by Projecting Likely Outcomes Decision Trees are useful tools for helping you to choose between several courses of action. They provide a highly effective structure within which you can explore options‚ and investigate the possible outcomes of choosing those options. They also help you to form a balanced picture of the risks and rewards associated with each possible course of action. This makes them particularly useful for choosing between different
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are many decisions which have to be made. One such decision opportunity arose about one week ago. The question was what to do with a major cable which is in the way of a guard rail that the Department of Transportation is installing. In this paper‚ the decision on what to do with this cable will be solved using a decision tree. The discussion will include the major factors involved in making the decision and also show how the final decision was made. Decision tree The decision tree is an effective
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Decision Trees for Decision Making The management of a company that I shall call Stygian Chemical Industries‚ Ltd.‚ must decide whether to build a small plant or a large one to manufacture a new product with an expected market life of ten years. The decision hinges on what size the market for the product will be. Possibly demand will be high during the initial two years but‚ if many initial users find the product unsatisfactory‚ will fall to a low level thereafter. Or high initial demand might
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What did you do? To get a deeper insight into creating decision trees on the laptop‚ I started to inform myself about possible supporting tools that can be used. As I am using an Apple MacBook‚ I found out that the software “XMind” cannot just help for drawing decision trees‚ but also for developing flowing charts‚ mind maps or to-do-lists. I thought about using Microsoft Excel as a tool for sorting the data. However‚ I finally looked up the necessary information in the given table without using
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A M BORISON Applied Decision Analysis. Inc. 27W Sand Hill Road Mcnio Park. California 94025 Oglethorpe Power Corporation (OPC) provides wholesale power to consumer-owned distribution cooperatives in Georgia. Late in 1990‚ OPC managers learned that Florida Power Corporation wanted to expand its connections to Georgia with another transmission line. To decide whether to build this line‚ OPC worked with Applied Decision Analysis‚ Inc. to conduct a comprehensive decision analysis in less than two
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Decision Tree Psy/410 The scenario chosen for this portfolio involves a woman seeking help with her addiction to methamphetamines. She wants to free her life from drugs but does not know how or where to start. Missouri offers several organizations and hotlines to help individuals get clean and sober. Center for addictions‚ SIGMA house‚ and Carol Jones alternative opportunities are all rehabilitation centers that offer both in and outpatient treatment. The Burrell center has a collaboration of
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DCH Logistics Planning for La Cafetière What are the advantages of having a bonded Warehouse and how can it help in doing international business? A Bonded Warehousing can be defined as storage‚ manipulation‚ or further manufacturing of dutiable goods in a building or other secured area without the payment of duty on it. Advantage: Goods can stay in a bonded warehouse for an unlimited period of time‚ and no import duties and VAT will have to be paid until the moment they are actually imported
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Decision Tree Portfolio 1 Decision Tree Portfolio Psy 410 Kathleen McCabe University of Phoenix January 21‚ 2012 Lara Ashbaugh Decision Tree Portfolio 2 The Portfolio for my Decision Tree is concerning a residential fire. The first place that would be called is 911. The dispatchers in our area immediately contact the local and closest fire station(s) to respond. The following takes place after 911 has been called. The 911 dispatchers contact the police and fire departments
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