Question: Draw a decision tree for the following scenario and explain which decisions you would make. Upload a Word or PDF file containing your decision tree
Draw a decision tree for the following scenario and explain which decisions you would make. Upload a Word or PDF file containing your decision tree and explanation. If you hand-draw the decision tree, please ensure your scan is legible. You need to decide whether or not to crash your project schedule by 1 week. The crash cost is $3000. You have determined that you have a 60% chance of meeting the deadline if you crash the project but only a 50% chance if you do not crash the project. You will need to pay a $7000 penalty if you do not meet the deadline. You also want to know whether it is worth purchasing $300 project insurance which would cover half the penalty in the event that you do not meet the deadline
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