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Decision-Making Case Study

Decision-Making Case Study. Should Alex Buy a Car?. Paced decision-making. P Problem A Alternative solutions C Criteria E Evaluation D Decision. Case 1: Should Alex Buy a Car?. Why do high school students want to own their own cars? Are there any drawbacks (costs) to owning a car?.

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Decision-Making Case Study

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  1. Decision-Making Case Study Should Alex Buy a Car?

  2. Paceddecision-making P Problem A Alternative solutions C Criteria E Evaluation D Decision

  3. Case 1: Should Alex Buy a Car? • Why do high school students want to own their own cars? • Are there any drawbacks (costs) to owning a car?

  4. Case 1: Should Alex Buy a Car? Your job: • Find the best car for Alex • Find the best insurance for Alex • Determine the total cost of owning a car • Decide whether Alex is better off with or without a car (right now)

  5. Case 1: Should Alex Buy a Car? Cars for sale • www.cars.com • www.autotrader.com • www.carmax.com • Local dealership websites • Auto loan calculator: https://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx

  6. Should Alex Buy a Car? • Auto loan calculator: https://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx • Bank websites – example: • https://www.suntrust.com/loans/auto-loans-financing

  7. Case 1: Should Alex Buy a Car? What kind of car insurance does Alex need? • Minimum liability coverage • Collision coverage • Comprehensive coverage • Uninsured motorist coverage • Medical payments coverage • Personal injury coverage

  8. Case 1: Should Alex Buy a Car? Sources of information on car insurance • https://wallethub.com/edu/types-of-car-insurance/9636/ • https://www.carinsurance.com/calculators/ select “learn the basics,” then scroll down to the map under “address.” this will give you a range, and the site has additional useful information. • https://www.youtube.com/watch?v=-Zr63hTicTU • https://www.nerdwallet.com/blog/insurance/getting-cheapest-car-insurance-teenagers/?trk_location=ssrp&trk_query=Car%20Insurance%20Discounts&trk_page=1&trk_position=9

  9. Case 1: Should Alex Buy a Car? • More Resources: • Total cost of ownership for cars https://www.Edmunds.com/tco.html • Driving costs (AAA): http://newsroom.aaa.com/auto/your-driving-costs/ • Driving costs (more from AAA): http://newsroom.aaa.com/2013/04/cost-of-owning-and-operating-vehicle-in-u-s-increases-nearly-two-percent-according-to-aaas-2013-your-driving-costs-study-archive/ • Maintenance costs: https://www.autotrader.com/car-shopping/hidden-costs-of-buying-a-used-car-maintenance-207358

  10. Case 1: should Alex Buy a Car? Prepare your team’s advice • Focus on Alex’s stated goals (short-term and long-term) • Compare several available cars, using Alex’s criteria, and decide on the best purchase • Research insurance and decide on the best insurance options • Evaluate whether or not Alex should buy a car • Use the decision-making model, and be clear about criteria and evaluations • Prepare a clear, coherent presentation

  11. Presentation • Did the team evaluate multiple alternatives? • Did the team use Alex’s stated criteria? • Did the team support the decision by using info gathered from resources? • Did all team members participate? • Is the presentation clear and thorough?

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