Use Affordability, Quality, and Style as the only Values for your decision in fi

Question

Use Affordability, Quality, and Style as the only Values for your decision in finding the best computer for you among 3 computers you have identified as your choices. Apply the Multifactor Evaluation Process by

(i)assigning normalized weights to the Values,

(ii)assigning for each value, ratings of individual computers.

(iii)Computing the total score of each computer to find the best computer; i.e., the computer with the highest total score.

(iv)Normalizing the ratings and total scores.

You must show systematically all numerical results to receive full credits.

And this is sample, you can follow up:

Multifactor Evaluation Process as conducted by the Decision-Maker:

1.For each Value i, assign a relative degree of importance, or Weight wi. For the simple decision example, the decision–maker may assign:

          Weights: Affordability = w1 = 0.6; Quality = w2 = 0.3; Style = w3 = 0.1.

       These weights are normalized if they sum to 1.

2.For each Value i, assign a merit Rating, or rij for each candidate computer j, and then multiply wi to rij for each computer and sum across the Values for the total score. For the simple decision, the results may be:

Value and Weight Computer 1 Computer 2 Computer 3

Affordability 0.6 3 (0.200)     5 (0.333)    7 (0.467)

Quality 0.3 8 (0.534)     5 (0.333)           2 (0.133)

Style 0.1 9 (0.600)     4 (0.267)           2 (0.133)

Total score (weighted average)5.1 (0.340) 4.9 (0.327) 5.0 (0.333)

Choice with the highest total score, i.e., Computer 1, is then the best.

It is often useful to normalize the ratings and total scores, by dividing each number by the sum, as shown by the values in parentheses

Creativity Challenge: Identify shortcomings of the method and improve them

Explanation / Answer

In this method, the computer which are best at some attributes get penalized just because they are lagging in some other attributes. For example, computer 3 is best in 'Affordability' criteria but due to other criteria it turned out worst.

Thus, the solution could be:

1) Take different decisions based on required criteria instead of selecting all criteria at a time

2) Do the sampling and test for their significant differences in the ratings based on Friedman test (non-parametric test for ANOVA. Then decide, if really C1 is best option.

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.