Use This Information to Answer the Following Questions

question 9

Essay

Use this information to answer the following questions.
A bakery must decide how many pies to prepare for the upcoming weekend.The bakery has the option to make 50,100,or 150 pies.Assume that demand for the pies can be 50,100,or 150.Each pie costs $5 to make and sells for $7.Unsold pies are donated to a nearby charity center.Assume that there is no opportunity cost for lost sales.
-Refer to the information above.Assume that based on historical bids with the defense contractor,the plant manager believes that there is a 65% chance that the bid will be accepted and a 35% chance that the bid will be rejected.
a.Develop a decision tree for this problem.
b.Analyze the decision tree and determine which alternative should be chosen.
c.Using the expected opportunity loss (EOL)criterion,which alternative should be chosen?

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Definitions:

Poor Performance

An employee's inability to meet the established standards or expectations of their job role, often characterized by low productivity, errors, or failure to achieve targets.

9-Box Grids

A talent management tool used to evaluate an organization's workforce by placing employees into a matrix based on performance and potential.

Future Stars

Individuals or entities expected to achieve significant success or recognition in their respective fields in the future.

Current Stars

Employees who are high performers and possess high potential, making significant contributions to organizational goals.