For this discussion, you will be asked to compose the contents for a memo to your boss detailing your decision analysis. The contents of the memo should integrate the six topics to discuss, which are listed below. In addition, the memo contents must be

• Written as a continuous piece of writing with a sustained viewpoint (not Q&A style formatting)
• Written in logical order
• Well-organized
• And include the following components at a minimum:
  1. An introduction to your business scenario. (step 1 listed below)
  2. Body paragraphs explaining decision strategy details. (steps 2-6 listed below)
  3. A conclusion paragraph tying all of your ideas together

Topics to discuss:

1. Create a scenario in which your business needs to make a decision.
2. Identify at least three alternatives and three states of nature for the decision. Explain why those alternatives and states of nature are chosen.
3. What should be considered when determining the payoff amounts in this situation?
4. Choose one of the three decision strategies:
   • Optimistic
   • Pessimistic
   • Criterion of realism
5. For the decision strategy chosen above:
   • State why the decision strategy was chosen.
   • Explain the decision making process for that strategy as it pertains to your scenario.
6. Indicate how your final decision would be made.