View the step-by-step solution to:

1) mm Incorporated {MPO, manufactures printed circuit boards for a major PC manufacturer. Before a board is sent to the customer, three key...

Can you create a decision tree using the below information?



Screen Shot 2018-06-08 at 9.33.52 PM.png

Screen Shot 2018-06-08 at 9.33.52 PM.png

1) mm Incorporated {MPO, manufactures printed circuit boards for a major PC
manufacturer. Before a board is sent to the customer, three key components must be tested. These components can be tested in any order. If any of the components fail, the entire board
must be scrapped. The costs of testing the three components are provided in the following
table, along with the probability of each component failing the test: Component Cost of Test Probability of Failure
X 51.75 0.125
Y $2.00 0.075
2 52.40 0.140 a. Create a decision tree for this problem that could be used to determine the order in
which the components should be tested to minimize the expected cost of performing the tests. Draw this tree by hand and include it along with yoursubmission. - Do not put any numbers (probabilities, costs, etc.) on your drawing. a The tree should show the structure and logic of the decision process. - Distinguishing between decision and chance nodes, and naming the various
nodes and branches, is critical. 0 Create a tree that is as general as possible — do not eliminate certain branches
from consideration because of the specific values of the inputs as presented in the case. 0 Recall that the key to success is determining what decision/event happens
first, and then building out the tree in sequential order. b. Implement your tree from part a in Precision Tree. Print the tree out in a single page
and include it along with your submission. c. State the optimal decision strategy regarding the order in which the components be
tested?

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question