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Carlisle Tire and Rubber, Inc., is considering expanding production to meet potential increases in the demand for one of its tire products.
Carlisle Tire and Rubber, Inc., is considering expanding production to meet potential increases in the demand for one of its tire products. Carlisle's alternatives are to construct a new plant, expand the existing plant, or do nothing in the short run. The market for this particular tire product may expand, remain stable, or contract. Carlisle's marketing department estimates the probabilities of these market outcomes as 0.25, 0.35, and 0.40, respectively.
a) Use Precision tree to identify the strategy that maximizes this tires manufacturer's expected profit.
b) Perform a sensitivity analysis on the optimal decision, letting each of the monetary inputs vary one a time plus or minus 10% from its base value, and summarize your findings. Which of the Inputs appears to have the largest effect on the best solution?
I have solved part a, but I am struggling with what to put in the Sensitivity Analysis Portion in Precision Tree in Excel. If someone could assist, then that would be great
