Decision trees can be used to determine the best possible alternatives and potential payoff for a new product or solving other management problems where uncertainty is present.Your task is to build a decision tree based on the following scenario.OM, Inc., a manufacturer of widgets, is considering the possibility of producing a new super-duper widget using 3D printing. This new project will require OM, Inc. to either purchase a high-end 3D printer or hire and train three additional employees. The market for the new widget could be either favorable or unfavorable. In the end, OM, Inc., can also decide not to develop the new widget.Sales for favorable acceptance by customers would be 30,000 widgets selling for $80 each. With unfavorable acceptance, sales of the widgets would only be 9,000 widgets as a selling price of $80 each. The cost of the 3D printing system is $600,000, however, the hiring and training of three new employees would cost only $100,000. In the end, manufacturing costs should drop from $60 for each widget when manufacturing without 3D printing to $45 each when 3D printed.The probability of favorable acceptance of the new widget is .35; the probability of unfavorable acceptance is .65.Use Excel OM to build a decision tree. Submit your Excel decision tree along with a short explanation of what decision should be made by the company and how you arrived at your answer.

OverviewTo make sense of all the data available to them, business leaders work alongside data scientists who generate data visualizations to understand business questions via analytics. This process gives companies insight on what is working and what is not: for example, whether the products or services offered are meeting expectations, or if a shift in strategy is necessary.PromptIn this blog, you will take on the role of a business leader who wishes to analyze if a new product their company has introduced is meeting the expectations. You would like to create a post in the company intranet that summarizes your findings in an easy-to-read format for your team. Pay special attention to creating meaningful data visualizations. You should use techniques that make content easy to follow but that also display charts accurately without distorting or skewing data. Your company’s profit goal is 25% of the cost of goods sold (COGS). Remember, COGS is the cost of manufacturing the product, including labor, materials, and overhead. You will need to build trust and an open channel of communication with other leaders on your team. Pay close attention to the story that data visualizations tell you and others reviewing your post.The purpose of this analysis is to better understand the cost, revenue, and profit associated with the new product launch. Review the Cost, Revenue, and Profit spreadsheet retrieved from the company’s data center and consider the following while developing your blog post.What is the importance of data analysis?What are the results of your analysis?Think about your analysis and its findings, including visuals. Use visuals and text to re-state the purpose of your analysis and summarize your most important findings.What are you trying to represent with this data?What kind of graphic have you selected and why?How did adding visual representations of the data change your analysis?Does the target audience influence the way you display information?