cecilia

cecilia

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Cecilia BurshteinOneClass University

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Project Management3History1Management2English2Electrical Engineering1Mechanical Engineering1Information Technology1Algebra7Engineering1Probability1Geometry2Computer Science5Accounting14Calculus9Biology1Mathematics7Statistics2Physics7Finance4Economics8Chemistry28
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Payoff Table for Bidding and Hosting Sporting Events

                                     Event A                         Event B

Cost of Bidding.           $200,000.                 $10,000

Probability Being Awarded 0.1.                      0.9

Cost of Hosting           $1,000,000.                $60,000

Probability of Hosting

Successfully                0.7                                0 .9

Financial Benefit Expected by an Excellent Event

(including revenue for the convention center and

economic impact for the city)

For event A $50,000,000 and for event B $3,750,000

Financial Benefit Expected by a Mediocre Event

(including revenue for the convention center and

economic impact for the city)

For Event A $38,000,000 for event B$1,600,000

Construct a decision tree as the sport marketing manager of the local sports commission

and convention and visitors bureau (CVB) for Jeffersonville.

Compare the three alternatives (Event A, Event B, or not bidding for any event) for their

expected values and net gains.

Prepare your recommendation to the executives from the sports commission and

convention center and be prepared to explain your decision tree model and the preferred

choice.

Calculate the expected value and the net gain for Event A with the new probability of .3

for being awarded the event, and compare the new outcome for Event A with the

outcome of Event B from previous assignment.

2. What would your recommendation to the executives be now?

3. What are three main take-aways from this exercise?

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After reading the attached article, your job is to provide a very brief summary, analysis, and evaluation. We can define these important concepts as follows:

  • Summary- A formal, logical, consistent way of highlighting the main points.
    • Purpose:
      • In school - to quickly and accurately describe something you have read
      • In professional life - to provide a faster-to-read version of the material to other readers
      • In personal life - to reflect as accurately as possible on people, events, and one's memories of them.
  • Analysis- A taking apart of something to show its parts or pieces, often using a special system, theory, or set of theories.
    • Purpose:
      • In school - to think more about a subject and/or to apply the methods of an academic discipline to a specific text
      • In professional life - to apply a system or idea to a specific situation so that others understand how to use something
      • In personal life - to examine one's own thoughts, actions, and motives logically and consistently from a variety of perspectives.
  • Evaluation- A judgment of the value of a text to society or the quality of the way it is argued or organized.
    • Purpose:
      • In school - to show how well or poorly something has been done, or its effects on others beyond its main ideas
      • In professional life - to help decide who to hire, how well people are doing, and the quality and style of your own work
      • In personal life - to look not so much at the contents of one's own thinking and acting, but rather at the quality and value of that thinking and acting.

Each response should be no less than 500 words and no more than 750 words. You should provide in-text citations (APA style) and a reference page (APA style).

Attachments

  • Why Brilliant Minds Like Jeff Bezos Embrace the Simple Rule of Scope
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