Decision Analysis

3574 words - 15 pages

Decision Analysis Model and Report

JaKaiser Smith
Southern New Hampshire University
Date: 07/09/2015

In this report following resources have been utilized to establish a relationship between Retail Salesperson’s salaries and their intent to shoplift at their own workplace:

* The Larceny theft data from Federal Bureau of Investigation’s official website for the years 2011, 2012 and 2013;
* 25th and 26th Annual Retail Theft Surveys by Hayes International for the years 2011, 2012 and 2013;
* National Conference of State Legislatures website for Labor and employment data for the years 2011, 2012 and 2013.

‘Shoplifting’ is undoubtedly a psychological issue ...view middle of the document...

e., shoplifting instances per 10,000 Retail salesperson.

Table 1 Research Analysis Synopsis (Year: 2013)
The Table 1 above summarizes the findings from this project. Here A_PCT10, A_PCT25, A_MEDIAN represents average 10th percentile, 25th percentile and Median salaries of Retail Salesperson for the year 2013 respectively. There is a small yet clear disparity between the salaries where shoplifting instances are less than or equal to 378 and that where the same is greater than 378. When the salaries are at the extreme low end of the spectrum even a difference of $100 makes a lot of difference in the life of an individual!

Table of Contents
Introduction 4
Research Question 4
Data Appraisal 5
Techniques 6
Evaluation 7
Model 8
Results 10
Limitations 11
References 12
Annexures 13

Figure 1 Decision Tree (Scenario#1) Year: 2013 8
Figure 2 Decision Tree (Scenario#2) Year: 2013 9
Figure 3 Colour key for Decision Tree (Scenario#2) Year: 2013 9
Figure 4 Resultant values from the two Decision Trees 10
Figure 5 Sensitivity Analysis (as per A_PCT10 in Decision Tree#2) 10
Figure 6 Shoplifting rate graph 13

Table 1 Research Analysis Synopsis (Year: 2013) 2
Table 2 Core Values used for plotting Decision Trees (Year: 2013) 7
Table 3 Core Values used for plotting Decision Trees (Year: 2012) 7
Table 4 Master Data-set 14


‘Shoplifting’ is a major crime in the USA today. According to the data sets used in this project, it has been estimated that the annual shoplifting losses in the USA amounts to be greater than $13,000,000,000! On an average an employee shoplifts products worth $715 dollars whereas the average amount shoplifted by an External customer is around $129. This is confirmed by the fact that Employee theft contributes 43% and shoplifting contributes 37% to the overall Retail shrink in the USA. The overall Retail shrink in USA is measured at around 1.48% of the total Retail sales. For example, the Retail sales in the USA for the year 2014 was around $4.732 trillion, therefore, the Retail Shrink during that year would have been $70,033,600,000! Even though technologies like Smart Tagging, Entry sensors, and Source tagging have been deployed but still the numbers don’t cease to proliferate.
This analysis is specific to Retail Salesperson, the front-end force of people who drives the sales in the stores. The intended population for this analysis is that of the Retailers who always have a hard time in figuring out the ways to minimize the store shrinkage. As the Store management team are reasonably well paid, well-educated and need to set an example for these Sale-force, the personnel responsible for store shrink have solely been considered to be Retail Salesperson (OCC Code: 41-2031). All the data pertaining to ‘Retail Salesperson’ is used in this research (e.g., number of employees and their current pay for the year 2011-13). The latest available data are that of the year 2013, therefore,...

Other Papers Like Decision Analysis

Decision Making Analysis Discussion Summary

533 words - 3 pages Decision Making Analysis Discussion Summary MGT/230 November 2, 2015 Anne Mulcahy, former president, current CEO of Xerox, started out earning a degree in English from Marymount College in New York. Anne originally wanted to be an editor like her father. However, her older brother, who worked at Xerox, convinced her to join there instead. After years of dedicated work, she looked at her company like it was a family. Needless to say

Decision Analysis - Jgt Task 1

2141 words - 9 pages Decision Analysis Decision Analysis Task 1 A Answer to Question A and A1. The answer relates to Shuzworld’s Rugged Wear Work Boot Assembly Line issue. The Shanghai facility of the company produces steel tipped work boot. The scope of this task is to analyze if the company has properly organized workflow associated with the production of this item. Presented below, Table 1

Risk Analysis on Investment Decision: Capital Budgeting

1218 words - 5 pages Capital budgeting involves planning a company’s future investments discovering feasibility whether or not to pursue the investments. A company may be lining up one or several investment options. In any case, several capital budgeting techniques are involved helping arrive at a good, sound financial investment decision. Several techniques include using net present value (NPV), internal rate of return (IRR), profitability index (PI), and

Investment Decision Analysis For Ipg Photonics Corporation

2834 words - 12 pages Investment Decision Analysis for IPG Photonics Corporation By: Stacey Fletcher FIN6409-1 Financial Management June 24, 2013 Everest University Introduction The premise of this paper is to assume that I have just graduated from the MBA program and have taken a job as a fund manager for a well-known investment banking house where I have been given $300 million fund to manage/invest. The type of fund I am managing is a

Managerial Decision Making Research and Analysis

3010 words - 13 pages Managerial Decision Making Research and Analysis Teresa Grass BUS640: Managerial Economics Instructor: John Sellers August 11, 2014 During the process of this paper there will a discussion on the history of Apple mistakes in its choices to over time, risk or indecision in its operations along with financial reports to show uncertain activities and risky, their non-price competitive strategies, regulations of the government that

An Analysis of the Most Significant Factors Which Influence Online Purchasing Decision

2156 words - 9 pages An analysis of the most significant factors which influence online purchasing decision Introduction With the development of digital technology, online shopping tends to be wildly accepted as a new convenient and efficient method to purchase. This trend may contribute to a dramatically growth in online sales. For example, online grocery has created £15 billion in the UK in 2015 and this figure is probably predicted to almost double by 2020

Analysis and Research for the Decision Making Process

1460 words - 6 pages organizations, will be affected, how the different platforms will work, and how these platforms can be brought together in order to reach our organization’s goals and objectives for future success. Additionally, the organization needs to have a decision processing system that will support the organization’s business processes, activities and tasks, how input and output data flows, business applications, and the organization’s technology infrastructure

Analysis of Factors Effecting Decision on Demand Loan in Government Bank

3185 words - 13 pages ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KEPUTUSAN PERMINTAAN KREDIT PADA PT BANK TABUNGAN NEGARA CABANG MEDAN Arlina Nurbaity Lubis1 dan Ganjang Arihta Ginting2 1 Staf Pengajar FE-USU 2 Alumni FE-USU Abstract This research aim to know and analyze factor influence level of interest rate KPR and customer service to demand decision of KPR at Bank Tabungan Negara, Co.Ltd Branch of Medan, and know

Decision Making

2644 words - 11 pages integrated in the interaction with the environment. From a normative perspective, the analysis of individual decisions is concerned with the logic of decision making and rationality and the invariant choice it leads to. Yet, at another level, it might be regarded as a problem solving activity which is terminated when a satisfactory solution is found. Therefore, decision making is a reasoning or emotional process which can be rational or

Decision Making

1824 words - 8 pages Decision-Making Making decisions within a group of individuals can be a tedious, complicated, and lengthy process. Employees often work within a group setting and make vital decisions that affect the entire company. Occasionally the intricacy of an issue calls for the expertise and opinions of those employees who are subject matter experts in order to make a sound decision. Participation within the group decision-making process improves

Decision Theory

560 words - 3 pages probability concept is important in the decision making process. Statistics are used for probability analysis of events that cannot be controlled. Many decisions are often made with a significant lack of knowledge and probability helps to determine the unknown. Further, when comparing several alternatives it is often difficult to make a decision regarding which alternative to choose. Making a decision is very similar to a gamble. To determine the

Related Essays

Decision Analysis

266 words - 2 pages For this task, you will use the “Shuzworld” case study (see Web Links section below). As the operations consultant for Shuzworld, you have been asked to provide recommendations after you analyze the problems given in the task prompts, applying the appropriate decision analysis tool to help you with your recommendations. Task: Prepare a memo by doing the following: A. Recommend how to improve the current workflow in the plant. 1

Decision Analysis

5639 words - 23 pages Chapter 14 Decision Analysis Learning Objectives 1. Learn how to describe a problem situation in terms of decisions to be made, chance events and consequences. 2. Be able to analyze a simple decision analysis problem from both a payoff table and decision tree point of view. 3. Be able to develop a risk profile and interpret its meaning. 4. Be able to use sensitivity analysis to study how changes

Decision Analysis

2702 words - 11 pages 2-1 2.1 Decision Analysis: Expected Value of Perfect Information (EVPI) The Expected Value of Perfect Information (EVPI) will be explained with the following example: Example: “Flip the Coin Game” Richard has to decide whether to play a game of “flip the coin” with Karin. The game is as follows: If the coin ends up heads Karin pays Richard one dollar and if the coin ends up tails Richard pays Karin eighty cents. What is the most Richard

Decision Analysis 3793 Words

3793 words - 16 pages Decision analysisManagement Science CourseworkDecision analysisThrough this essay it is intended to briefly describe the topic of decision analysis, then to briefly describe the application of decision analysis in different companies based on published literature, then to finally list the benefits of the decision analysis approach. To do this, the first stage is to illustrate the theory of decision analysis in general then to apply it to actual