OMGT3223 Homework #2

Please read the following concerning all homework:

1. When completing homework please use a reasonable font and font size (e.g., Times 12 point).
 
2. Please include a cover sheet with your name and date.
 
3. Include a short synopsis of the problem, all assumptions, and definitions used at the beginning of each exercise.
 
4. Answer the problems as completely as possible. Neatness, accuracy, and overall clarity of work are important. Full credit will only be given for problems which include the aforementioned items. I am looking for process and methodology not necessarily one correct answer. Remember to speak to trade-offs and risks also.
 
5. Submit homework by the due date and time.

Please submit the following problems:

TAKE NOTE: THERE ARE TWO PARTS TO THIS HOMEWORK - THE PAIRED ASSIGNMENT AND THE INDIVIDUAL ASSIGNMENT, BOTH MUST BE COMPLETED AND SUBMITTED

Paired Assignment

I will be assigning two unique problems to the class. I will pair off students in the class (note, one group may have three). One person will do one of the problems and the other person will do the other problem. I will then supply an answer key to each student for the problem that they did not complete. Each pair of students will then be required to converse via Canvas in the Discussion area and correct each others work commenting on areas where improvement could be made. I expect at least four exchanges for each pair of students (2 per each student = 4).

This exercise is to enhance interaction between you and your colleagues as well as foster interaction between the professor and all students. This exercise will be weighted 10% of the Homework #2 grade and those who complete the problems and discussion session will receive full credit for this portion of Homework #2.

THE PAIRINGS FOR HOMEWORK #2 ARE AS FOLLOWS:

Problem A
Last Name, First Name; ECU Contact
Problem B
 Last Name, First Name; ECU Contact
Alqudsi, Omar; alqudsio20@students.ecu.edu paired with McNeill-Lobrutto, Christopher; mcneilllobruttoc22@students.ecu.edu
Anzurez Bernardo, Rosa; anzurezbernardor24@students.ecu.edu paired with Medina, James; medinaj21@students.ecu.edu
Barron, Miranda; barronm24@students.ecu.edu paired with Mehrer, Joshua; mehrerj20@students.ecu.edu
Benfield, Wallace; benfieldw25@students.ecu.edu paired with Norris, Michael; norrism22@students.ecu.edu
Bowen, Elizabeth; bowenel24@students.ecu.edu paired with Nosgovitz, Noah; nosgovitzn23@students.ecu.edu
Bowling, Thomas; bowlingt23@students.ecu.edu paired with Pereira, Skye; pereirask24@students.ecu.edu
Butt, Abdul; butta20@students.ecu.edu paired with Quakenbush, Ashton; quakenbusha20@students.ecu.edu
Cook, Kyndall; cookk21@students.ecu.edu paired with Reyes-Villa, Tristan; reyesvillat23@students.ecu.edu
Espinoza, Francisco; espinozaf23@students.ecu.edu paired with Reynolds, Joshua; reynoldsj22@students.ecu.edu
Gardner, Dylan; gardnerd24@students.ecu.edu paired with Rochinski, Sierra; rochinskis23@students.ecu.edu
Grady, Caitlyn; gradyca23@students.ecu.edu paired with Shorback, Bran; terryb21@students.ecu.edu
Grimes, Steven; grimess11@students.ecu.edu paired with Souri, Mira; sourim24@students.ecu.edu
Hargett, Deantreal; hargettd23@students.ecu.edu paired with Stillings, Tatiana; stillingst23@students.ecu.edu
Hill, Michael; hillmi23@students.ecu.edu paired with Tobin, Kayley; tobink22@students.ecu.edu
Horne, Brooke; horneb22@students.ecu.edu paired with Tomecek, Justin; tomecekj24@students.ecu.edu
Keck, Abbie; kecka24@students.ecu.edu paired with Torres, Dorian; torresd24@students.ecu.edu
Lynn, Shae; lynns21@students.ecu.edu paired with McLawhorn, Caitlyn; mclawhornca22@students.ecu.edu

Problem A:

1.Given the following payoffs, create a payoff table, if you choose D1 and State 1 occurs then you get $100, however, if you choose D1 and State 2 occurs then you only get $1. In addition, if you choose D2 and State 1 occurs then you get $50, however, if you choose D2 and State 2 occurs then you get $40.

2. If the probability of State 1 occurring is 40% and the probability of State 2 occurring is 60% then what are the expected values for D1 and D2.

Problem B:

1.Given the following payoffs, create a payoff table, if you choose D1 and State 1 occurs then you get $1,000, however, if you choose D1 and State 2 occurs then you only get $10. In addition, if you choose D2 and State 1 occurs then you get $500, however, if you choose D2 and State 2 occurs then you get $400.

2. If the probability of State 1 occurring is 60% and the probability of State 2 occurring is 40% then what are the expected values for D1 and D2.


First step, in the Discussion are of Canvas exchange a greeting with the student you are paired with and share your solution to the problem assigned to you (i.e., either Problem A or B).  Finally, send an email back commenting on the classmate's work (these comments can be very simple and straightforward, such as "all correct" or "not correct, check solutions that are attached").

I will be monitoring the Discussion area in Canvas so I will be aware if you cannot get through to your assigned classmate or if the assigned classmate chooses not to respond or participate. Anyone not participating or responding will receive a zero for this portion of the assignment. Those making a "good faith" effort but get no response will receive credit.

Please email me if you do not understand or need assistance.

Individual Assignment

PLUS COMPLETE THESE EXERCISES ON YOUR OWN AND UPLOAD YOUR DOCUMENT(S) TO VIA CANVAS

Spreadsheet Modeling for Business Decisions - Kros

Chapter 4 - Problems (at the end of Chapter 4 in the text)

1, 5, and 14

HINT: The use of the template(s) and the Video Tutorials on the course website will come in REAL HANDY here.