Your Perfect Assignment is Just a Click Away
We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!


TA&MIU Decision Trees Application for the New Widget Using 3D Printing Worksheet

TA&MIU Decision Trees Application for the New Widget Using 3D Printing Worksheet

Question Description

Decision trees can be used to determine the best possible alternatives and potential payoff for a new product or solving other management problems where uncertainty is present.

Your task is to build a decision tree based on the following scenario.

OM, Inc., a manufacturer of widgets, is considering the possibility of producing a new super-duper widget using 3D printing. This new project will require OM, Inc. to either purchase a high-end 3D printer or hire and train three additional employees. The market for the new widget could be either favorable or unfavorable. In the end, OM, Inc., can also decide not to develop the new widget.

Sales for favorable acceptance by customers would be 30,000 widgets selling for $80 each. With unfavorable acceptance, sales of the widgets would only be 9,000 widgets as a selling price of $80 each. The cost of the 3D printing system is $600,000, however, the hiring and training of three new employees would cost only $100,000. In the end, manufacturing costs should drop from $60 for each widget when manufacturing without 3D printing to $45 each when 3D printed.

The probability of favorable acceptance of the new widget is .35; the probability of unfavorable acceptance is .65.

Use Excel OM to build a decision tree. Submit your Excel decision tree along with a short explanation of what decision should be made by the company and how you arrived at your answer.

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: DESTINY PAPERS only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of master's and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by DESTINY PAPERS are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. DESTINY PAPERS is known for the timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At  DESTINY PAPERS, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.