The “Planning a Dance” activity closely followed the P.A.C.E.D. model of decision-making. The problem during the activity was to plan a dance while remaining within the budget of $9,635 and with the given choices. Three categories for expenditures for the dance had been chosen, each with their own alternative. These categories are; hiring a DJ or a live band, renting the venue, and providing food, drinks, and decorations. The criteria were whether the plan would be within the budget, and if the attendees would enjoy the dance. During the evaluation, we decided that music and food/drinks/decoration would take priority over the venue. Mentioned previously, this activity “closely” followed the P.A.C.E.D. model. This is because we omitted the process of stacking each alternatives’ pluses and minuses during the evaluation. Instead we evaluated based on what we felt would be the best choice. With the budget and the guests in mind, my group and I came with the decision of; music from Good Vibrations for $2000, The Hilton Hotel as a venue for $2000, a package deal of food and decorations, costing $5000. The remaining $635 is to be a present for the school. We chose the DJ because we felt that there should be a variety of genres in the dance instead of just one genre from a live band. The original choices for Food/drinks/decorations and venue were initially cheaper than they were, but we saw that we had enough money to acquire better choices, thus the Hilton Hotel, and the package deal. Finally, each group gave all their choices, and we took a vote as to which plan would be accepted.

One new concept that we looked at during this activity was opportunity cost. Opportunity cost is the cost of the alternative that could have been considered, had the alternative that was chosen been chosen against. There three instances for this. In the choice for music, if we had not chosen Good Vibrations, we would have chosen Pig Sty. Had we not chosen The Hilton Hotel as the venue, we would have chosen American Legion Hall. If the package deal had not been chosen, the $3000 catered choice would have been chosen.