Uncertain Decision
Rita Ben-Cherqui
University of Phoenix
QNT 561: Applied Business Research and Statistics
Dr. Geoffrey Mugalu
June 8, 2013
Uncertain Decision
Decisions made within the business are made by using facts and data by analyzing the information from the research. A manager can be efficient by the strategic probability with the tools for analyzing data along with validating the hypothesis made during the research. In this paper it will be explained within and making a business decision on a product or defected product. The research will help validate a decision that limit the processing for the uncertainty.
The raw materials for a manufacturing business has a very high defective volume of raw materials. This is costly research and development team has been put in place to validate the company’s claims. The team will search for other opportunities for a different supplier and see what differences between suppliers. This has been presented to the team with clear definition from management and team.
The process will ensure the validity in which will provide strength and confidence in the team. There are several questions that will be explored in the research that will include the probability of the defective product. How many products are defective and go back to the company? How does the manufacturer handle the controls from the supplier for defective product? What percentage of the defective product sold? What percentage of defective product was from the manufacturer because the raw materials being defective? What is the monetary dollar amounts due to defections, which will include returns, waste and, other items? Can the raw materials be...