Business Analytics question Problem 1 Road Trip Decision Trees

AutoSave . OFF AU20 PE 1 (1) Q a Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Problem #1 - Road Trip (Decision Trees) Probability Time in Node Node of Event Hours Value You and your friends have been discussing taking a trip when the pandemic is over. While on a Zoom meeting with several of your friends, who you want to travel with, the group 2 narrows the trip destination down to 4 different locations. One of your friends wants to take a 5-day cruise that sets sail from 4 35% a port in Tampa, Florida. Two other friends want to go to 5 65% Ultra Music Festival in Miami, Florida. Your other friend is 6 curious about seeing Bourbon Street in New Orleans, 7 Louisiana, while you just want to sit on the beach (6 ft. away 8 from others, of course) in Panama City Beach, Florida. 9 Everyone wants to stick together, so you all agree to make a 10 11 decision tree from your recent skills learned in BUSMGT 55% 2321. You fill the decision tree with various scenarios that 12 45% match the impulsiveness of each driver. Before solving the 13 decision tree, the group agrees to take the trip that has the 14 least amount of driving time to the destination. You omit the 15 option to "do nothing" from the decision tree - you are 100% 16 60% certain that the group will take a trip. 17 18 40% 90% 17 The diagram on the following page is the decision tree that 19 10% 16 you will use to solve the problem. Fill out the table on this 20 75% 13 page to receive points. Each node (place, decision, etc.) is 21 25% 15 labeled on the diagram with its corresponding number placed 22 to the top left of its corner. For full credit, all the "value" cells 30% 18 must be completed and the destination that you will go to 23 70% 19 must be written inside of the provided box. There is no need 24 20% 14 to fill out the shaded cells in the table. Round all numbers 25 50% 15 and calculations to 2 decimal places. 26 30% 13 27 80% 16 Hint: There might be more than one location that have the 28 20% 15 same optimal value. Once you have solved the decision tree, 29 50% 17 work from left to right until you get a state of nature node and 18 then trace the possible paths to get your answer(s). 30 50% 31 15% 14 Hint: Remember that the only node values that use 32 85% 18 probabilities are the nodes requiring the EMV formula 33 650 16 (designated with a circle). 34 35% 15 35 10% 14 36 60% 16 To which Location(s) might your 37 30% 13 group be heading to? 38 50% 14 39 50% 16 Page 2 of 12 2339 words English (United States) Focus E + 124%AutoSave . OFF AU20 PE 1 (1) Q a Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments 18 Speed to Tampa Drive through Jacksonville (FL 19 e safely to Tampa 20 Drive safely on Speed to he way to Miami Saverinat Drive through Paylona Beach Blow a tire on te way to Miami 10 22 speed to Tampa 2 Drive through Orlando Drive safely to Charlotte 23 240 Here an edended brea Drive through ByonA Beach Stop and swim "Miern 5 Power through janverina 26 to get to Miami 27 Speed to Tampa Drive through Orlando Drive safely to 28 Tampa Columbus (OH) 13 Do not race the 29 speed to get to Miami students 30 Drive safely to get to Miami 14 Arrive first to University of Race the Miami Michigan car full of students on Michigan set arrested for spring break 32 the way to 15 33 Take a wrong tu 13 way to New Cincinnati (OH) Arrive in New 34 leans without an issue 35 Arrive safely in Panarna City 16 Beach Continue to 36 Get involved in a Beach City Beach Speed to rive through Panama City Nashville 17 38 Speed on the Continue to New Orleans Orleans 39 New Orleans Page 3 of 12 2339 words English (United States) Focus E + 124%