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Solved: Problem 14-09 (Algorithmic) One advantage of using the multicriteria decision-making

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? Ratings Accountant Denver 4 Analyst Auditor Weight Chicago Criteria Career Advancement Location Management Salary Prestige Job Security Enjoyment of the Work Houston 4
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? Ratings Accountant Denver 4 Analyst Auditor Weight Chicago Criteria Career Advancement Location Management Salary Prestige Job Security Enjoyment of the Work Houston 4

Expert Answer

The total score is sum product of weight and ratings for each criteria.

Example: For Analyst, Total score = 7*7 + 5*4 + 7*5 + 8*6 + 8*6 + 5*4 + 8*8 = 292

Similarly for Accountant = 267

For Auditor = 303

Hence, Auditor is the best

Analyst Accountant Auditor
Career Advancement 49 28 35
Location 20 35 30
Management 35 42 49
Salary 48 64 48
Prestige 56 28 56
Job Security 20 30 45
Enjoyment of the work 64 40 40
292 267 303
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