Quantitative Methods Case Study

Case Title:

Mining for Precious Metals

Abstract:
The case study helps to understand the concept of Decision Tree Analysis. National Mineral Corporation (NMC), a leading metal exploration company, which finds out sites where potential sources of metals are present. Before starting actual explorations, the company buys a small area of land for their trials. An officer at National Mineral Corporation (NMC) has to decide whether he should opt for a 3-day test exploration or not.

Pedagogical Objectives:

• To discuss how Decision Tree Analysis can be used in practical implications.

Keywords : Quantitative Methods; Decision Science; Analysis; Statistics; Decision Dilemma; Decision Trees; Expected Monetary Value (EMV); MBA Course Case Mapping; Business Statistics; Quantitative Methods; Course Case Mapping

Contents:

• Introduction
• The Dilemma
• Questions for Discussion