Discussion on Decision Making and Problem Solving

Assignment – Decision Making and Problem Solving
No plagiarism.Write the reference in the last paper as APA style.You can find the guidelines in the file.Just for your Info.The textbook of this course is:

 

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College of Administrative and Financial Sciences

MGT 312

Assignment 3

Deadline: End of Week 12, 28/11/2020 @ 23:59

 

 

Course Name: Decision Making and Problem Solving Course Code: MGT 312
Student’s Name: Semester: I
Student’s ID Number: CRN:
Academic Year: 1440/1441 H

 

For Instructor’s Use only

Instructor’s Name:
Students’ Grade:  Marks Obtained/Out of Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY

  • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
  • Assignments submitted through email will not be accepted.
  • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
  • Students must mention question number clearly in their answer.
  • Late submission will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answered must be typed using Times New Roman (size 12, double-spaced) No pictures containing text will be accepted and will be considered plagiarism).
  • Submissions without this cover page will NOT be accepted.

 

 

 

Course Learning Outcomes-Covered

  • Identify and analyze different perspectives on understanding problems for different situations. (3.1)
  • Utilize different decision making tools to enhance problem solving and decision making approaches.   (4.3)
  • Identify organized alternatives and select among possible alternative to evaluate business options. (2.10)
  • Create a Decision Making and Problem Solving worksheet document.  (4.5)

 

Critical Thinking Questions:                                                        (Marks 5)

 

Question 1:                                                                                     (1 Mark)

Suppose you are a member of a group asked to find ways to cut costs throughout your organization for the upcoming year. Sales have fallen sharply, and the company is in danger of going out of business. After gathering information, your group concludes that the company will save the most money by freezing pay for a year, despite a tradition of annual salary increases. How can you make sure this is a fair decision? How can you make sure that others in the organization will see it as a fair decision?

 

Question 2:        Case Analysis                                                      (2 Marks)

Care, a health consultancy company in Saudi Arabia, is studying the economic benefits of a program of preventative COVID-19 flu vaccinations. Care has to give advice to government for COVID-19 vaccination.  If vaccinations are not introduced then the estimated cost to the government if flu strikes in the next year is SR.70m with probability 0.1, SR.100m with probability 0.3 and SR.150m with probability 0.6. It is estimated that such a program will cost SR.70m and that the probability of flu striking in the next year is 0.75.

One alternative open to the committee is to institute an “early-warning” monitoring scheme (costing SR.30m) which will enable it to detect an outbreak of flu early and hence institute a rush vaccination program (costing SR.100m because of the need to vaccinate quickly before the outbreak spreads).

 Question

  • As a consultant of Care, Develop a decision tree for alternatives and make recommendation to Indian government that which alternative can maximize expected economic benefits?

 

Question 3:                                                                                     (1 Mark)

Decision support tools rely on objective, mathematical data. What part does ethics play in using decision support software?

 

Question 4:                                                                            (1 Mark)

If you collect too much information for analyzing a decision, you can suffer from analysis paralysis, where you spend too much time thinking about a decision rather than making one. Recall a major financial decision you made recently, such as of a car or housing purchase or rental. Describe your process for making the decision. How could analysis paralysis have affected this process?

 

 

 

[Please answer in the next page]

 

 

 

 

 

 

 

Answers

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Section C—DIRECTIONS: Complete the following payroll register for employees of Corby Company for the week ended March 1, 20–. Taxable earnings should be computed on the basis of a 40-hour week with overtime earnings being paid at time and one-half for all hours over 40 each workweek (no overtime for salaried employees). Note: Carry each overtime hourly rate out to 3 decimal places and then round off to 2 decimal places. All employees’ wages are subject to the OASDI tax of 6.2% and the HI tax of 1.45%. The supplemental HI rate of 0.9% is not applicable.

Use the partial wage-bracket tables provided to determine the amount of federal income tax to be withheld. For the salaried employees (#32 and #10), use the percentage method table. All workers are employed in a state that imposes a 2% income tax on the gross wages earned by each worker. (1 point for each correct answer—exclude totals row)

 

PAYROLL REGISTER
FOR WEEK ENDING                       March 1                                                            20–
EMPLOYEE’S NO.  

MARITAL STATUS

NO. W/H ALLOW. CLAIMED TIME RECORD REGULAR EARNINGS OVERTIME EARNINGS   DEDUCTIONS NET PAY EMPLOYEE’S NO.
 

MONDAY

 

TUESDAY

 

WEDNESDAY

 

THURSDAY

 

FRIDAY

 

SATURDAY

NO. HOURS (REGULAR)  

RATE PER HOUR

 

 

 

AMOUNT

NO. HOURS (O/T)  

RATE PER HOUR

 

 

 

AMOUNT

 

 

TOTAL EARNINGS

FICA TAXES      
 

 

OASDI

 

 

HI

 

FEDERAL INCOME TAX

 

STATE INCOME TAX

 

CHECK NO.

 

 

AMOUNT

41 S 2 8 8 9 8   12.00                   411   41
32 M 5 8 10 10 9 4 40 S 1,600.00                 412   32
63 M 0 8 8 8 8 8   13.00                   413   63
54 S 1 9 8 10 8 8 4   12.00                   414   54
45 M 2 10 8 8 9 8   12.50                   415   45
16 S 0 8 9 10 9 8 4   12.75                   416   16
7 S 1 5 6 8 8 8 4   12.00                   417   7
28 M 3 8 8 8 8 8   12.00                   418   28
49 M 0 8 9 8 8 9 6   12.00                   419   49
10 S 1 8 8 0 9 10 5 40 S 1,450.00                 420   10
      TOTALS………….……………..                        

 

AT–10                                                                                                        Chapter 4/Achievement Test

 

 

Source: Internal Revenue Service.

 

Source: Internal Revenue Service.

 

 

 

 

 

 

 

 

 

© 2020 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

 

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