IEOR 166 Midterm 1 2013

Topics: Decision theory, General Motors, Game theory Pages: 3 (525 words) Published: March 2, 2014
IEOR 166, Spring 2013S. Oren
MIDTERM I
Closed Books
(One two sided 8.5x11” note sheet allowed)

Time allowed 55 Minutes
SHOW ALL YOUR WORK
You may not consult anyone other than the professor or the GSI Only one double sided note sheet 8.5” x 11” allowed
You may not use any electronic devices other than a calculator You cannot use a PHONE as a calculator
Your Last Name: ___________________________________________________ Your First Name: ___________________________________________________ Your Student ID: ___________________________________________________

SCORE:
Question 1)_______________________
Question 2)_______________________
Question 3)_______________________
Question 4)_______________________
Question 5)_______________________
Question 6)_______________________
Question 7)_______________________
TOTAL _________________________

GM Auto manufacturing is deciding between three projects. While establishing themselves in the economy car market, sales of one of their Sports Utility Vehicle (SUV), the have not met expectations. They are considering launching a large marketing campaign coupled with R&D to make the SUV vehicle more attractive to the public. They are also considering two other alternatives, 1) focusing on upgrading their new electric vehicle VOLT or 2) developing a new sports electric (SPORT) line that will compete with the Tesla. Due to budget constraints only one of these three projects can be pursued. There are several outside factors that they must consider in making their decision. The success of the projects depends on the state of the economy. They assume the state of the economy can either RECOVER with probability p or stay WEAK with probability 1-p. They must also consider new Green House Gas (GHG) legislation supported by the Obama administration that would negatively impact SUV sales while positively impacting VOLT sales. SPORT sales are not expected to be affected by the...
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