Decision problem structuring and solution prospecting Assignment Semester $1,2024----------------------------------------------------------------------------------------------------------------$Produce an outline for your chosen ill$-$defined decision problem $($preferably from aprofessional$/$industrial$/$public institutional situation$)$ as given below:$(1)($a$)$ Initial problem statement: $[5$ marks$]($b$)$ Other problem statement$($s$)$: $[5]($c$)$ The people involved: decision maker$($s$),$ stakeholders, and analysts, etc: $[10](2)($a$)$ Alternative solutions to the problem: $[10]($b$)$ Number of alternatives: $[5]($i$)$ A finite, but small numberor, $($ii$)$ A very large, perhaps infinite, number$(3)($a$)$ Ways to measure the performance of an alternative: criteria, performance measures,and attributes: $[10]($b$)$ Number of objectives$/$performance measures: $[5]($i$)$ One objective$/$performance measureor, $($ii$)$ Multiple objectives$/$performance measures$(4)$ Constraints on the alternatives: $[10](5)($a$)$ A forecast associated with various states of nature: $[10]($b$)$ Mapping from the alternative space to the outcome space: $[5]($i$)$ Deterministic, but not explicitor, $($ii$)$ Deterministic, but represented as a closed$-$form function from a decision variablespace to an outcome spaceor, $($iii$)$ Probabilistic, but modelled analyticallyor, $($iv$)$ Probabilistic, but modelled using simulation$(6)$ Models$/$techniques $($specify alternative models$/$techniques that can be used$)$: $[15]($a$)$Models$/$techniques for the evaluation of alternativesor$/$and $($b$)$ Models$/$techniques for the ranking of feasible alternatives and$/$or the selection of abest alternativeor$/$and $($c$)$ An optimization technique for use in situations where it is impossible to explicitlyenumerate all of the feasible alternatives$(7)$ A procedure for implementing the chosen solution: $[10][$Total Marks: $100]$Note: This assignment $($with the Practical$)$ constitutes $25\%$ of the subjects final mark.