Project Computation and Decision-Making
Bob Mackey is the principle owner of Fuels Inc. Bob has been able to increase his salary by a factor of over 100. At the present time, Bob has to remain competitive in his industry, so he has the following alternatives regarding fuel equipment purchases.
Equipment Favorable Market Unfavorable Market
Panther $200,000 $100,000
Knight $300,000 $75,000
JB Billow $50,000 $12,000
Compose a paper in which you make a recommendation to Bob and Fuels Inc. In your paper, be sure to include the following components:
an explanation of the type of decision Bob is facing,
a discussion on the decision criteria that should be used,
a description of how you will apply the six steps of the decision-making process and,
a recommendation for which alternative is best for Fuels Inc. Why?
Your completed paper must be at least two pages in length. You must integrate your textbook and at least two other academic sources. Be sure to include an introduction and conclusion section in your paper. Adhere to APA Style when constructing this assignment, including in-text citations and references for all sources that are used. Please note that no abstract is needed.
If you need more practice on the math skills that are required in this assignment, the CSU Math Center created this Decision Analysis Example recording that might help you when completing this assignment. A transcript and closed captioning are available once you access the video.