Assignment:
Sunday Liquor Sales
Minnesota lawmakers renewed their decades-old debate over Sunday liquor sales Tuesday as the House Commerce Committee advanced a bill to the House floor on a 15-4 vote. Supporters the bill are convinced that Minnesota's longtime ban on Sunday liquor store sales needs to come to an end. The House bill would allow liquor stores to be open on Sundays, but not before 10 a.m. or after 6 p.m. The bill also prohibits Sunday deliveries to liquor stores.
Option 1: You are a liquor store. How would you capitalize on the upcoming legislature?
SPECIFIC REQUIREMENTS
The project must use the decision analysis methods. The decision problem must have (1) at least three alternatives, (2) at least three evaluation measures, and (3) significant uncertainty about some important element of the decision. You must consult at least two expert data sources for information.
The paper should include all the elements of the decision making process. Use the structure below to assist you.
Problem Statement: Overview of the decision problem and the major considerations in analyzing it.
Evaluation Considerations and Evaluation Measures: Describe the process used to determine evaluation considerations and evaluation measures, including a discussion of other evaluation considerations that seem relevant and the reasons that they were not included.
Decision Alternatives: Describe the process used to determine alternatives, including a discussion of other alternatives that seem relevant and the reasons these were not analyzed. Describe the final set of alternatives used in the decision analysis.
Value Function Assessment: Present the general procedure used for the assessment. Show the parameters for the value function.
Scenarios: Present the scenarios used to analyze the impact of uncertainties. Describe the process used to develop the final set of scenarios, as well as other scenarios that seem relevant and the reasons these were not included.
Data Collection and Evaluation Measure Scores: Present the procedure used to determine the evaluation measures for each alternative under each scenario.
Value Calculations and Sensitivity Analysis: Briefly describe how you will carry out the value computations required to complete your evaluation. Present the value calculations for the alternatives for each scenario, as well as a sensitivity analysis. Briefly describe how these computations were done, include the actual computations in the appendix to your report. Conduct and present a systematic sensitivity analysis to investigate how variations in assumptions impact the analysis results.
Conclusions: Present your conclusions based on the analysis in the preceding sections, including a qualitative discussion of the reasons the preferred alternative is best. The goal of this section is that someone who does not understand the details of decision analysis methods will find your Conclusions section to be a convincing argument for the preferred alternative. That is, the analysis should be a way of developing insight about the key factors in the decision and how these lead to selection of the preferred alternative.