Quantitative Methods Individual work 2 wk4 Assignment

Quantitative Methods Individual work 2 wk4 - Assignment causaGlenn believes that a referendum could be placed on the voting ballot in time for the November election. Passage of the referendum would metamorphose the zoning of the property and permit construction of the condominiums. The sealed-bid procedure requires the bid to be submitted with a certified chalk up for 10% of the amount bid. If the bid is rejected, the deposit is refunded. If the bid is accepted, the Deposit is the down payment for the property. However, if the bid is accepted and the bidder does not follow through with the purchase and meet the remainder of the monetary obligation within hexad months, the deposit will be forfeited. In this chemise, the county will offer the property to the next highest bidder.In the case study above, a finale tree was use to analyze the doable scenarios that took place. Decision trees are used to clearly define the process in which a problem is solved and the possible outcom es which will root into the solution being formulated (Mian & Mian, 2002, P. 198).In the decision, tree below, D1 represents the point where the solution is made. This point is referred to as a decision node. (Mian & Mian, 2002, P. 199).Chance circles are points within the decision nodes which reveal the possible outcomes which are out of the control of the decision maker.C1 represents these detect circles (Mian & Mian, 2002, P. 199).C3-after the bid has been accepted, and they do not follow through with the purchase and also fail to meet the financial obligations in 6 months, the deposit will be forfeited and the property will automatically be taken to the next highest bidder.The concept of anticipate value assists to determine the worth of an investment after analyzing possible outcomes and probability of each scenario as it occurs. Once all these scenario and probabilities have been brought together along with each scenario, the expected return is found after each outcome is m ultiplied by each probability. Before