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Chang by Henry Bet is a document available to read on EtoBox.

What is Chang about?

Chang faces a decision between continuing R&D or abandoning a project. Continuing would cost $200,000 but has a 35.2% chance of success and winning a $1,000,000 contract. Abandoning would cost $0 but the project has only a 5% chance of winning with inferior technology. A decision tree analysis finds the expected monetary value of continuing is $157,500, so Chang should take the risk and continue R&D to develop the new technology.

Author

Henry Bet

Language

EN