Assignment: Carter Racing Case Analysis
The Carter Racing Case in the assignment below presents us with a scenario of decision-making under uncertainty. You will have the opportunity to practice evaluating quantitative and qualitative evidence to make and support your decision.
Read the Carter Racing case and determine if the Carters should participate in the upcoming race. Your response should: • Indicate if the Carters should participate in the race. • Analyze the options both quantitatively (use case data on probabilities and payoffs to calculate expected values, etc.) and qualitatively. Recall the methodology from the pre-work module on Dealing with Uncertainty. • Briefly explain your reasoning using words. NOTE: Exhibit 1 shows engine failure in seven races. One of the engine failures had 3 gasket breaks, one had two, and the other five had one each.
Expectation: Briefly explain your reasoning using words. Justify your decision both quantitatively and qualitatively.
No less than 4 pages
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