Problem 14-09 (Algorithmic) One advantage of using the multicriteria decision-ma
ID: 466171 • 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
As nothing additional is mentioned, the total score is calculated as the sum of the products of weights and individual scores. The weights are not brought down to a total of 1 as the same calculations are carried out on all the 3 options. The results would still be the same if any additional massaging of the data had to be done (assuming that no additional information is involved).
Below is the answer table with the question marks filled. The score is the sum of all the individual characteristics of the option.
Based on the above, the rankings of the options are:
1. Auditor in Houston
2. Analyst in Chicago
3. Accountant in Denver
Analyst Accountant Auditor Criteria Chicago Denver Houston Career Advancement 72 54 54 Location 30 42 42 Management 54 45 72 Salary 56 64 56 Prestige 72 40 72 Job Security 30 36 60 Enjoyment of the Work 72 64 48 Score 386 345 404