File Home Insert Draw Page Layout Formulas Data Review View Help Comments Sha A Colors ON .. Gridlines Headings View View Width: 1 page 11 Height: 1 page Scale: 86% HU A Fonts Themes Margins Orientation Size Print Breaks Background Print Area Titles Bring Send Forward Backward Selection Align Group Rotate Pane O Effects Print Print Themes Page Setup Scale to Fit Sheet Options Arrange F42 fic 2 B D E G H J K L N o P Q R S T U V W 3 4 5 6 7 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 0.2422 8 9 10 11 12 13 14 15 16 17 18 19 20 21 1.1 1.2 1.3 1. 1.5 1.6 1.7 1.8 1.9 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 0.0398) 0.0438) 0.0478 0.0517| 0.0793 0.0832 0.0871 0.091 0.1179 0.1217 0.1255 0.1293 0.1554 0.1591 0.1628 0.1664 0.1915 0.199 0.1985 0.2019 0.2257 0.2291 0.2324 0.2357 0.258 0.2611 0.2642 0.2673 0.2881 0.291 0.2939 0.2967 0.3159 0.3186 0.3212 0.3238 0.3413 0.3438 0.3461 0.3485 0.3643 0.3665 0.3686 0.3708 0.3849 0.3869 0.3888 0.3907 0.4032 0.4049 0.4066 0.4082 0.419 0.4207 0.4222 0.4236 0.4332 0.4345 0.4357 0.437 0.4452 0.4463 0.4474 0.4484 0.4554 0.4564 0.4573 0.4582 0.4641 0.4649 0.4656 0.4664 0.4713 0.4719 0.4726 0.4732 0.4772 0.4778 0.4783 0.4788 0.4821 0.4826 0.483 0.4834 0.4861 0.4864 0.4868 0.4871 0.4893 0.4896 0.4898 0.4901 0.4918 0.492 0.4922 0.4925 0.4938 0.494 0.4941 0.4943 0.4953 0.4955 0.4956 0.4957 0.4965 0.4966 0.4967 0.4968 0.4974 0.4975 0.4976 0.4977 0.4981 0.4982 0.4982 0.4983 0.4987 0.4987 0.4987 0.4988 0.499 0.4991 0.4991 0.4991 0.4993 0.4993 0.4994 0.4994 0.4995 0.4995 0.4995 0.4996 0.4997 0.4997 0.4997 0.4997 Formulas Z table Prob 1 0.0557| 0.0948 0.1331 0.17 0.2054 0.2389 0.2704 0.2995 0.3264 0.3508 0.3729 0.3925 0.4099 0.4251 0.4382 0.4495 0.4591 0.4671 0.4738 0.4793 0.4838 0.4875 0.4904 0.4927 0.4945 0.4959 0.4969 0.4977 0.4984 0.4988 0.4992 0.4994 0.4996 0.4997 0.05961 0.0636] 0.0987 0.1026 0.1368 0.1406 0.1736 0.1772 0.2088 0.2123 0.2454 0.2734 0.2764 0.3023 0.3051 0.3289 0.3315 0.3531 0.3554 0.3749 0.377 0.3944 0.3962 0.4115 0.4131 0.4265 0.4279 0.4394 0.4406 0.4505 0.4515 0.4599 0.4608 0.4678 0.4686 0.4744 0.475 0.4798 0.4803 0.4842 0.4846 0.4878 0.4881 0.4906 0.4909 0.4929 0.4931 0.4946 0.4948 0.496 0.4961 0.497 0.4971 0.4978 0.4979 0.4984 0.4985 0.4989 0.4989 0.4992 0.4992 0.4994 0.4994 0.4996 0.4996 0.4997 0.4997 Prob 3 0.0675 0.1064 0.1443 0.1808 0.2157 0.2486 0.2794 0.3078 0.334 0.3577 0.379 0.398 0.4147 0.4292 0.4418 0.4525 0.4616 0.4693 0.4756 0.4808 0.485 0.4884 0.4911 0.4932 0.4949 0.4962 0.4972 0.4979 0.4985 0.4989 0.4992 0.4995 0.4996 0.4997 0.0714 0.1103 0.148 0.1844 0.219 0.2517 0.2823 0.3106 0.3365 0.3599 0.381 0.3997 0.4162 0.4306 0.4429 0.4535 0.4625 0.4699 0.4761 0.4812 0.4854 0.4887 0.4913 0.4934 0.4951 0.4963 0.4973 0.498 0.4986 0.499 0.4993 0.4995 0.4996) 0.4997 0.0753 0.1141 0.1517 0.1879 0.2224 0.2549 0.2852 0.3133 0.3389 0.3621 0.383 0.4015 0.4177 0.4319 0.4441 0.4545 0.4633 0.4706 0.4767 0.4817 0.4857 0.489 0.4916 0.4936 0.4952 0.4964 0.4974 0.4981 0.4986 0.499 0.4993 0.4995 0.4997 0.4998 22 23 24 25 26 27 28 29 30 31 32 2.9 33 34 35 36 3.1 3.2 3.3 3.4 Instructions Prob 2 Ready Accessibility. Investigate Page 1 of 1 W File Home Insert Draw Page Layout Formulas Data Review View Help Comments Shar A. Colors EE Gridlines Headings View View Width: Automatic 1Height: Automatic Scale: 97% A Fonts Themes Margins Orientation Size Print Breaks Background Print Area Titles Bring Send Forward Backward Selection Align Group Rotate Pane O Effects Print Print Themes Page Setup Scale to Fit Sheet Options Arrange F42 fr A B D E F . | J K L M M N. O Q A company is analyzing a possible decision to either outsource its operations to a South Carolina Company, Mexico, or keep the operations internal. Run your analysis. You must use excel formulas for everything except where you need to write the Decision Criterion's decision. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Calculate Maximax, Maximin, Equally Likely, Hurwicz (a=.4), Minimax Regret, Expected Montary Value, Expected Opportunity Lost, and Expected Value of Perfect Information if we looking at spending 5,000 to do market research. Is the market research worth the cost??? Write a summary of the Decision Making without probabilities, if you were the CEO of this company what would your decision be? 17 18 19 20 21 Probability 22 Outsource Operations to a South Carolina Company 23 Outsource Operations to Mexico 24 Keep Operations Internal 25 26 Good Economic Conditions 0.45 $30,000.00 $25,000.00 $20,000.00 Average Economic Conditions 0.35 $20,000.00 $15,000.00 $13,000.00 Poor Economic Conditions 0.2 -$10,000.00 -$15,000.00 $10.000.00 Good Average Economic Economic Conditions Conditions Prob 1 Prob 2 Prob 3 Economic Conditions 27 Regret Table Instructions Formulas Z table Ready Accessibility: Investigate | File Home Insert Draw Page Layout Formulas Data Review View Help Comments Share Colors ON A H Gridlines Headings Die HU PWidth: Automatic 1Height: Automatic Scale: A Fonts View View Themes Margins Orientation Size Print Breaks Background Print Area Titles Bring Send Forward Backward 97% Selection Align Group Rotate Pane O Effects Print Print Themes Page Setup Scale to Fit Sheet Options Arrange F42 X fic A B D E F H J K L M N 0 Q 19 20 21 Probability 22 Outsource Operations to a South Carolina Company 23 Outsource Operations to Mexico 24 Keep Operations Internal 25 26 Good Economic Conditions 0.45 $30,000.00 $25,000.00 $20,000.00 Average Economic Conditions 0.35 $20,000.00 $15,000.00 $13,000.00 Poor Economic Conditions 0.2 -$10,000.00 -$15,000.00 $10.000.00 Good Economic Conditions 0.45 Average Economic Conditions 0.35 Economic Conditions 0.2 27 Regret Table 28 Probability 29 Outsource Operations to a South Carolina Company 30 Outsource Operations to Mexico 31 Keep Operations Internal 32 33 34 35 36 37 38 39 40 41 42 43 44 Instructions Formulas Z table Prob 1 Prob 2 Prob 3 O u Ready Accessibility: Investigate + 100