Making a decision and a decision tree Essay Example | Topics and Well Written Essays - 500 words

Making a decision and a decision tree - Essay Example Jaeger is better off harvesting the grapes immediately. In my opinion, Mr. Jaeger should be guided by the decision tree options, because the calculation of options is viable. This means that the options calculated in the decision tree have a chance of occurring. From the decision tree, it can be seen that the expected monetary values for the two options are very different, a margin that Mr. Jaeger cannot afford to dismiss. However, an analysis of the case indicates that the Riesling is not a large part of the winemaker’s business; therefore, Mr. Jaeger would not be ruined if he takes the gamble and losses. This means that the winemaker has the option of taking the gamble to impress wine connoisseurs, since the presentation of a quality wine would raise the reputation of the winery. After an analysis of the two options open to Mr. Jaeger, it can be concluded that the best decision would be to harvest the grapes immediately. This is because the expected pay off from waiting for the storm is not justified by an accompanied increase in

Oil in the middle east Research Proposal Example | Topics and Well Written Essays - 250 words

Oil in the middle east - Research Proposal Example What is a good measure of oil dependency? What will the Middle East in general do as oil begins to run out? In particular, what will Kuwaits response be? First, I want to identify the likely date of peak oil. Peak oil is defined as the point where oil production is maximized. Peak oil does not mean that oil has run out, but it does mean that all subsequent attempts to get it will be more and more expensive, raising the price of oil ever and ever higher. Second, I want to determine the economic mix of the Middle East in terms of imports and exports, as well as look at the history of the Middle East to determine what has historically made it so oil-dependent. Marcus Noland and Howard Pack. "The East Asian Industrial Policy Experience: Implications for the Middle East" Industrial Policy in the Middle East and North Africa. Ed. Ahmed Gala. Cairo: The American University in Cairo Press, 2008.