If a firm is faced with a need to make a sequence of decisions over time,...
If a firm is faced with a need to make a sequence of decisions over time, it could use:
Question 7 options:
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break-even analysis. |
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simulation analysis. |
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decision-tree analysis. |
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none of the given answers. |
Homework Answers
Decision tree analysis
It helps to explore all the alternatives. It gives analysis of the outcome of choosing every combination of decisions in the sequence.
Suppose a firm need to decide
1) manufacture product 1 or product 2
2) sell the product manufactured in America or Europe
The firm has to decide the product first and then market. In decision tree analysis we analyse,
Combination 1 manufacture product 1 and sell in America
Combination 2 product 1 and Europe
Combination 3 product 2 in america
Combination 4 product 2 in europe
Other analyses are not made for sequence of decisions
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