// Numbas version: exam_results_page_options
{"name": "Decision Making", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"name": "Decision Making", "tags": [], "metadata": {"description": "", "licence": "None specified"}, "statement": "<p>A car manufacturer company is facing increased competition. The company identifies three options to increase profit.</p>\n<ul start=\"4\">\n<li>Invest heavily in a marketing campaign</li>\n<li>Hire a new technology engineer</li>\n<li>Diversify and sell motor services as well as cars</li>\n</ul>\n<p>&nbsp;If the company take action it is anticipated that sales could improve in the next year by 10%, 20% or 30% depending on market conditions. The profit which can be expected depends on the level of sales and is shown in the table below.</p>\n<p>Table 1: expected profit</p>\n<table>\n<tbody>\n<tr>\n<td width=\"154\">\n<p>&nbsp;</p>\n</td>\n<td width=\"142\">\n<p>Sales improve by 10%</p>\n</td>\n<td width=\"142\">\n<p>Sales improve by 20%</p>\n</td>\n<td width=\"142\">\n<p>Sales improve by 30%</p>\n</td>\n</tr>\n<tr>\n<td width=\"154\">\n<p>Invest in marketing</p>\n</td>\n<td width=\"142\">\n<p>10,000</p>\n</td>\n<td width=\"142\">\n<p>15,000</p>\n</td>\n<td width=\"142\">\n<p>20,000</p>\n</td>\n</tr>\n<tr>\n<td width=\"154\">\n<p>Hire new engineer</p>\n</td>\n<td width=\"142\">\n<p>11,000</p>\n</td>\n<td width=\"142\">\n<p>20,000</p>\n</td>\n<td width=\"142\">\n<p>30,000</p>\n</td>\n</tr>\n<tr>\n<td width=\"154\">\n<p>Diversify</p>\n</td>\n<td width=\"142\">\n<p>-6,000</p>\n</td>\n<td width=\"142\">\n<p>30,000</p>\n</td>\n<td width=\"142\">\n<p>42,000</p>\n</td>\n</tr>\n</tbody>\n</table>", "advice": "", "rulesets": {}, "extensions": [], "variables": {}, "variablesTest": {"condition": "", "maxRuns": 100}, "ungrouped_variables": [], "variable_groups": [], "functions": {}, "preamble": {"js": "", "css": ""}, "parts": [{"type": "1_n_2", "useCustomName": false, "customName": "", "marks": 0, "showCorrectAnswer": false, "showFeedbackIcon": false, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "adaptiveMarkingPenalty": 0, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "prompt": "<p>What is the best decision using the Maximax rule?</p>", "minMarks": 0, "maxMarks": 0, "shuffleChoices": false, "displayType": "dropdownlist", "displayColumns": 0, "showCellAnswerState": false, "choices": ["Invest in marketing", "Hire a new engineer", "Diversity"], "matrix": [0, 0, "2"], "distractors": ["", "", ""]}, {"type": "1_n_2", "useCustomName": false, "customName": "", "marks": 0, "showCorrectAnswer": false, "showFeedbackIcon": false, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "adaptiveMarkingPenalty": 0, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "prompt": "<p>What is the best decision based on the Minimax Regret Rule?</p>", "minMarks": 0, "maxMarks": 0, "shuffleChoices": false, "displayType": "dropdownlist", "displayColumns": 0, "showCellAnswerState": false, "choices": ["Invest in marketing", "Hire a new engineer", "Diversify"], "matrix": [0, "4", 0], "distractors": ["", "", ""]}, {"type": "1_n_2", "useCustomName": false, "customName": "", "marks": 0, "showCorrectAnswer": false, "showFeedbackIcon": false, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "adaptiveMarkingPenalty": 0, "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "unitTests": [], "prompt": "<p>The CEO decides to use a Hurwicz criterion of 0.3 to make the decision. Which is the best decision based on this criterion?</p>", "minMarks": 0, "maxMarks": 0, "shuffleChoices": false, "displayType": "dropdownlist", "displayColumns": 0, "showCellAnswerState": false, "choices": ["Invest in marketing", "Hire a new engineer", "Diversify"], "matrix": [0, 0, "4"], "distractors": ["", "", ""]}], "contributors": [{"name": "Shihan Miah", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/4456/"}]}]}], "contributors": [{"name": "Shihan Miah", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/4456/"}]}