Problem 14-09 (Algorithmic) One advantage of using the multicriteria decision-ma
ID: 465806 • Letter: P
Question
Problem 14-09 (Algorithmic)
One advantage of using the multicriteria decision-making methods presented in this chapter is that the criteria weights and the decision alternative ratings may be modified to reflect the unique interests and preferences of each individual decision maker. For example, assume that another graduating college student had the same three job offers described in Section 14.3. This student provided the following scoring model information. Rank the overall preference for the three positions. Which position is recommended?
(please fill in all question marks)
Ratings Analyst Accountant Auditor Criteria Weight Chicago Denver Houston Career Advancement 9 8 6 6 Location 6 5 7 7 Management 9 6 5 8 Salary 8 7 8 7 Prestige 8 9 5 9 Job Security 6 5 6 10 Enjoyment of the Work 8 9 8 6Explanation / Answer
Multicriteria Decision-making:
Particulars
Weight
Ratings
Weighted Score
Analyst
Accountant
Auditor
Analyst
Accountant
Auditor
Criteria
Chicago
Denver
Houston
Chicago
Denver
Houston
Career Advancement
9
9
7
7
9 x 9 = 81
9 x 7 = 63
9 x 7 = 63
Location
5
8
6
6
5 x 8 = 40
5 x 6 = 30
5 x 6 = 30
Management
8
7
5
6
8 x 7 = 56
8 x 5 = 40
8 x 6 = 48
Salary
9
8
7
8
9 x 8 = 72
9 x 7 = 63
9 x 8 = 72
Prestige
7
10
6
7
7 x 10 = 70
7 x 6 = 42
7 x 7 = 49
Job Security
8
6
7
9
8 x 6 = 48
8 x 7 = 56
8 x 9 = 72
Enjoy the Work
9
10
7
8
9 x 10 = 90
9 x 7 = 63
9 x 8 = 72
Score
457
357
406
Therefore, we can see that the score is highest for position of Analyst at Chicago, i.e., 457.
Hence, the position of Analyst at Chicago is recommended for the graduating college student.
Particulars
Weight
Ratings
Weighted Score
Analyst
Accountant
Auditor
Analyst
Accountant
Auditor
Criteria
Chicago
Denver
Houston
Chicago
Denver
Houston
Career Advancement
9
9
7
7
9 x 9 = 81
9 x 7 = 63
9 x 7 = 63
Location
5
8
6
6
5 x 8 = 40
5 x 6 = 30
5 x 6 = 30
Management
8
7
5
6
8 x 7 = 56
8 x 5 = 40
8 x 6 = 48
Salary
9
8
7
8
9 x 8 = 72
9 x 7 = 63
9 x 8 = 72
Prestige
7
10
6
7
7 x 10 = 70
7 x 6 = 42
7 x 7 = 49
Job Security
8
6
7
9
8 x 6 = 48
8 x 7 = 56
8 x 9 = 72
Enjoy the Work
9
10
7
8
9 x 10 = 90
9 x 7 = 63
9 x 8 = 72
Score
457
357
406