Disition making Statistics Project Example | Topics and Well Written Essays - 750 words

Disition making - Statistics Project Example cted and the demand is low, the option of doing nothing will earn the company a profit of 140,000 or stimulating the demand via the local advertising. The feedback of advertising can either be modest or sizeable with their corresponding probabilities estimated at 0.3 and 0.7. When the advertising is modest the profit will be 70000, and if the advertising id sizable the profit will grow to 770,000. Consequently, assuming the facility to be built is larger, and the demand happens to be high, the recorded profit will be 280,000. The paper therefore, draws the help for the Director of Research and Development Department at Al Karim to decide on the best decision by embarking on the decision that will maximize the profit of the organization. The paper further draws the decision tree for the current situation of the company. Additionally, the paper calculates the anticipated revenue for the alternative (Fitzgerald, 2002). The sole objective of Al-Karim Inc. in the manufacturing industry is to make and maximize profits. The profits are gained from the operation of the company’s daily activities. The company operation involves producing Cleaning Vacuums in Qatar. The company through the office of the Research and Development Department will consider building a facility that will have positive revenue returns from its operation. The amount of profit that the company will earn depends on the demand of the product in the anticipated locations of Doha. Assuming the smaller facility brings forth a higher return than the larger facility, then the company will resolve on the same and vice versa. The choice of facilities depends on various variables like the demand, the probability of certainties, the external factors like advertising response, and the profit that comes along with the variables. The company will use the decision tree find out the best choice out of the alternatives. The choice of the fa cility will completely depend on the amount of the expected profit from the

The Present Situations Essay Example | Topics and Well Written Essays - 1250 words

The Present Situations - Essay Example In the ethics of alternatives, there are three theoretical alternatives according to which the existing situation can be resolved. The first one is Utilitarianism in which the main emphasis is on the greatest good for the greatest number. According to this approach, if an act proves to be beneficial for more people than those who are not benefitting from it then that act is moral. In the present situation, it is to be decided that which of the decided alternative promotes the greatest good for the greatest number of the stakeholders. In order to decide which of the alternative provides the greatest good for the greatest number of people, the amount of benefit has to be measured. The benefit would be measured for all the alternatives and then the alternative which maximizes the ratio of benefit to harm to the various stakeholders by the decision would be selected to resolve the problem. If Steffan proceeds with the present situation then there is a great benefit for both Neerson and J ames Monroe. While the respondents and Lauren would be hurt. Furthermore, the amount of worth and value to be placed on covering the cost for future community services at the expense of the ethics of market research also needs to be investigated. Another factor that needs to be analyzed is that which of the alternative will allow the company to maintain its reputation as an ethical marketing research firm. Furthermore, the utility in endangering the personal information of the respondents for future benefit has to be kept in mind.