Assume that you are going to start a business that is

Question

• Assume that you are going to start a business that is focused upon providing a wireless high-speed Internet access service to a community where the only ability for residents to access the Internet is dial-up. Discuss how you would use different forms of handling uncertainty to provide a financial analysis of the problem. How would you define the business problem; what data would you need? How would you conduct this analysis?
• Of the four types of analyses presented in this theme, for what types of business questions would you use each method? Provide examples of questions where each might be applicable.
• Have you ever used any of the methods presented in this section? In what context have you used them (professional or personal), and what was the question that you were attempting to answer? Provide some feedback on how well the method worked and what insight the results provided you. Was your decision better informed?
• Share a personal or professional example where the use of decision trees would be helpful to understanding and making a decision. Take time to draw your decision tree and explain to the class what the decision is that you are going to make (or have already made). How does the decision tree help with understanding the problem? With quantifying the problem?
• Find a contemporary news article of international or national importance. Use a decision tree to diagram the possible decision outcomes that may result from this situation and describe how the problem could be analyzed with the use of decision trees. Assume that you are an advisor to the decision maker and that you will be required to brief them on your understanding of the problem, analysis of the situation, and potential recommendations. Use your decision tree to accomplish these activities.