QUM3
TASK 1
Managers are required to organize, interpret, and display data that is reliable and relevant to the real-world decisions they must make in their businesses. The use of analytical tools will improve your ability to use data to make informed decisions.In this task, you will address the business situation in the attached scenario. You will access the scenario and dataset by entering your student ID number in the “Start” tab of the “Decision Tree Analysis Resources” document found in the Supporting Documents section. The scenario and dataset are located in the “Decision Tree Scenario” tab. Using this dataset, you will perform a decision tree analysis and recommend a solution. This recommendation will be included in a report you will write summarizing the key details of your analysis.For full functionality of the scenario and data attachment, you must use Microsoft Excel, which is available via the Microsoft Office 365 subscription service provided to all WGU students. It can be downloaded using the “Microsoft Office 365” link in the Web Links section.ScenarioRefer to the scenario located in the supporting document, “Decision Tree Analysis Resources.”
RequirementsMicrosoft Files Note: Write your paper in Microsoft Word (.doc or .docx) unless another Microsoft product, or pdf, is specified in the task directions. Tasks may not be submitted as cloud links, such as links to Google Docs, Google Slides, OneDrive, etc. All supporting documentation, such as screenshots and proof of experience, should be collected in a pdf file and submitted separately from the main file. For more information, please see Computer System and Technology Requirements.
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.
Complete your decision tree analysis and create a report by doing the following:
Note: The supporting document “Decision Tree Analysis Resources” contains a scenario, data set, and template. While you must use the scenario and data set provided in the supporting document, the template is optional. You are encouraged to use the template to complete your analysis. Please see supporting document, “QUM3 Task 2 Getting Started,” for help accessing the scenario and dataset.
A. Summarize the business scenario by doing the following:
1. Describe a business question that could be answered by applying decision tree analysis and is derived from the scenario in “Decision Tree Analysis Resources.”
2. Justify why decision tree analysis is the appropriate analysis technique, and include relevant details from the scenario to support your justification.
B. Identify the relevant data values required for your decision tree analysis, including the following:
• demands
• profits per unit
• probabilities
C. Report how you analyzed the data using decision tree analysis by completing a decision tree diagram that includes each of the following:
• state-of-nature nodes
• calculated payoffs, each expressed out to two decimal places
• expected values, each expressed out to two decimal places
Note: Include “Decision Tree Analysis Resources.” spreadsheet with your task submission for evidence of your calculations and decision tree diagram.
Note: Refer to “Prepare for the Performance Assessment Task 2” in the course of study to examples of acceptable output.
D. Summarize the implications of your decision tree analysis by doing the following:
1. Explain each step required to determine the expected value based on payoffs.
2. List one limitation for each of the following:
• any one of the data values listed in part B
• the decision tree analysis
E. Recommend a course of action that addresses the business question from part A and is based on the results of your decision tree analysis.
F. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
G. Demonstrate professional communication in the content and presentation of your submission.
TASK 2
Managers are required to organize, interpret, and display data that is reliable and relevant to the real-world decisions they must make in their businesses. The use of analytical tools will improve your ability to use data to make informed decisions.In this task, you will address the business situation in the attached scenario. You will access the scenario and dataset by entering your student ID number in the “Start” tab of the “Decision Tree Analysis Resources” document found in the Supporting Documents section. The scenario and dataset are located in the “Decision Tree Scenario” tab. Using this dataset, you will perform a decision tree analysis and recommend a solution. This recommendation will be included in a report you will write summarizing the key details of your analysis.For full functionality of the scenario and data attachment, you must use Microsoft Excel, which is available via the Microsoft Office 365 subscription service provided to all WGU students. It can be downloaded using the “Microsoft Office 365” link in the Web Links section.ScenarioRefer to the scenario located in the supporting document, “Decision Tree Analysis Resources.”Requirements
Your submission must represent your original work and understanding of the course material. Most performance assessment submissions are automatically scanned through the WGU similarity checker. Students are strongly encouraged to wait for the similarity report to generate after uploading their work and then review it to ensure Academic Authenticity guidelines are met before submitting the file for evaluation. See Understanding Similarity Reports for more information. Microsoft Files Note: Write your paper in Microsoft Word (.doc or .docx) unless another Microsoft product, or pdf, is specified in the task directions. Tasks may not be submitted as cloud links, such as links to Google Docs, Google Slides, OneDrive, etc. All supporting documentation, such as screenshots and proof of experience, should be collected in a pdf file and submitted separately from the main file. For more information, please see Computer System and Technology Requirements.
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.
Complete your decision tree analysis and create a report by doing the following:
Note: The supporting document “Decision Tree Analysis Resources” contains a scenario, data set, and template. While you must use the scenario and data set provided in the supporting document, the template is optional. You are encouraged to use the template to complete your analysis. Please see supporting document, “QUM3 Task 2 Getting Started,” for help accessing the scenario and dataset.
A. Summarize the business scenario by doing the following:
1. Describe a business question that could be answered by applying decision tree analysis and is derived from the scenario in “Decision Tree Analysis Resources.”
2. Justify why decision tree analysis is the appropriate analysis technique, and include relevant details from the scenario to support your justification.
B. Identify the relevant data values required for your decision tree analysis, including the following:
• demands
• profits per unit
• probabilities
C. Report how you analyzed the data using decision tree analysis by completing a decision tree diagram that includes each of the following:
• state-of-nature nodes
• calculated payoffs, each expressed out to two decimal places
• expected values, each expressed out to two decimal places
Note: Include “Decision Tree Analysis Resources.” spreadsheet with your task submission for evidence of your calculations and decision tree diagram.
Note: Refer to “Prepare for the Performance Assessment Task 2” in the course of study to examples of acceptable output.
D. Summarize the implications of your decision tree analysis by doing the following:
1. Explain each step required to determine the expected value based on payoffs.
2. List one limitation for each of the following:
• any one of the data values listed in part B
• the decision tree analysis
E. Recommend a course of action that addresses the business question from part A and is based on the results of your decision tree analysis.
F. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.
G. Demonstrate professional communication in the content and presentation of your submission.
