Essays

Explain how payback period, NPV, and IRR criteria are used in decision making

1. Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability. 2. Briefly discuss probability distributions. What is a normal distribution? Please provide a written example of how ‘understanding distribution’ can be an asset for any business project.

Describe the types of decisions that do not involve uncertainty and risk and common approaches used for analyzing them.

Choose a country from Anthony Bourdain’s travels described in A cook’s Tour. Write a report on any interesting aspect of that country from an academic viewpoint, i.e. historical, sociological, political, artistic, etc. Sources must include A Cook’s Tour.

Summarize the modeling and analysis using Solver tool available in Excel and what information it provides. You need to discuss the steps to run optimization using Solver in excel and produce optimization output and sensitivity reports.

With the development of information technology, advertising is becoming more intrusive in our daily lives. Discuss the pros and cons of advertising of medical and pharmaceutical products? Should the government impose more restrictions on advertising on these products? If so, under what conditions?

Explain the concept of risk analysis and how Monte Carlo simulation can provide useful information for making decisions.

Explain basic spreadsheet approaches for implementing decision models in Excel.

Prepare and analyze a consumer decision tree and relate it to marketing strategy. Ask a class member to consider a recent consumer gift purchase. Interview a class member concerning this gift purchase. Develop a consumer decision tree for this gift purchase. Write a summary describing the gifting rules for this decision and analyze the decision … Read more

Describe how to use Excel data tables, Scenario Manager, and goal seek tools to analyze decision models