Question
(a) Make an event tree to map out and then compute the decision values for the following scenario and then (b) make a recommendation of
(a) Make an event tree to map out and then compute the decision values for the following scenario and then (b) make a recommendation of the preferred solution. based on your results
You are a company CEO deciding how to dispose of a drum of radioactive waste. Your options are to bury it in shallow trench on your property, leave it in your storage facility, or send it to a low-level waste disposal site. However, disposal at the LLW site will cost you $500. If you leave the drum in your storage facility, it costs you nothing if no one finds it. but there's a 40% chance that the insector will locate the drum on his next visit and fine you $5,000 for improperly storing waste. Additionally, you are contemplating burying the drum on your facility property. However, this is also illegal. If no one finds the drum, it costs you nothing, but there's a 5% chance that one of your employees reports you to the inspector, who will fine you $50,000 for improper disposal.
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