I have looked at the other examples of this and still cannot seem to wrap my head around this. Even using the provided spread sheet. Can someone tell me what I have done wrong? Input or Formula wise? Thank you. FORMULA is hugely helpful.
A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected to depend on the length of time required to implement the system, which depends on such factors as the amount of customization required, integration with legacy systems, resistance to change, and so on. Each vendor has different expertise in handling these things, which affect the cost. The costs (in millions of $) are shown below for short, medium, and long implementation durations. Use the Excel template Decision Analysis to identify what vendor to select. Decision Alternative Short Medium Long Delphi Inc. $3.50 $4.80 $6.55 CRM International $5.50 $4.25 $6.80 Murray Analytics $3.00 $5.80 $7.50 Fill in the table below for maximum and minimum costs under each alternative. Carry out an analysis considering costs as negative numbers. Round your answers to the nearest cent. $ $ Decision Alternative Maximum Minimum Delphi Inc. $ 6.55 $ 3.50 CRM International 6.80 4.25 Murray Analytics $ 7.50 $ 3.00 Calculate the amounts foregone by not adopting the optimal course of action for each possible implementation duration. Determine the maximum opportunity cost for each alternative. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest cent. $ $ Future events Medium Short Long Maximum Opportunity Loss Matrix Decision Alternative Delphi Inc. $ $ $ $ 2. X 1. .95 2.00 CRM ternational $ $ $ $ $ 0 X 1.55 X .70 8 1.55 X Murray Analytics ta $ $ $ $ $ 2.5 x 8 2.50 Conduct a decision analysis to evaluate the choice of a vendor. The aggressive strategy (maximax) is to choose the CRM International. The conservative strategy (maximin) is to choose the Delphi Inc. The opportunity loss strategy is to choose the Delphi Inc. A company is considering three vendors for purchasing a CRM system: Delphi Inc., CRM International, and Murray Analytics. The costs of the system are expected to depend on the length of time required to implement the system, which depends on such factors as the amount of customization required, integration with legacy systems, resistance to change, and so on. Each vendor has different expertise in handling these things, which affect the cost. The costs (in millions of $) are shown below for short, medium, and long implementation durations. Use the Excel template Decision Analysis to identify what vendor to select. Decision Alternative Short Medium Long Delphi Inc. $3.50 $4.80 $6.55 CRM International $5.50 $4.25 $6.80 Murray Analytics $3.00 $5.80 $7.50 Fill in the table below for maximum and minimum costs under each alternative. Carry out an analysis considering costs as negative numbers. Round your answers to the nearest cent. $ $ Decision Alternative Maximum Minimum Delphi Inc. $ 6.55 $ 3.50 CRM International 6.80 4.25 Murray Analytics $ 7.50 $ 3.00 Calculate the amounts foregone by not adopting the optimal course of action for each possible implementation duration. Determine the maximum opportunity cost for each alternative. Fill in the table below. If your answer is zero, enter "0". Round your answers to the nearest cent. $ $ Future events Medium Short Long Maximum Opportunity Loss Matrix Decision Alternative Delphi Inc. $ $ $ $ 2. X 1. .95 2.00 CRM ternational $ $ $ $ $ 0 X 1.55 X .70 8 1.55 X Murray Analytics ta $ $ $ $ $ 2.5 x 8 2.50 Conduct a decision analysis to evaluate the choice of a vendor. The aggressive strategy (maximax) is to choose the CRM International. The conservative strategy (maximin) is to choose the Delphi Inc. The opportunity loss strategy is to choose the Delphi Inc
