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Given the matrix of outcomes in the table below for alternatives and attributes

Question : Given the matrix of outcomes in the table below for alternatives and attributes : 2141853

SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.

Answer the question.

1) Given the matrix of outcomes in the table below for alternatives and attributes, what conclusions can be drawn using the satisficing and dominance methods?

Attributes

Alternative I

Alternative II

Alternative III

Acceptable Range

A

85

100

55

60-100

B

7

5

2

5-10

C

Good

Good

Excellent

Good-Excellent

D

16

18

4

18-20

E

$29,000

$19,000

$24,000

$10,000-$30,000

2) Upon her graduation, Britney wants to buy her first car. Given the matrix of outcomes and rank of importance in the table below for alternatives and attributes, use the satisficing, dominance, disjunctive resolution, and lexicography methods to counsel Britney on her choice.

Attributes

Rank*

(1-most important)

Model

I

Model

II

Model

III

Acceptable

Range

Price

1

$25,000

$24,000

$22,000

$22,000-$24,000

Aesthetic appeal

4

68

78

88

68-88

Gas mileage

2

22.8

23.5

25.5

24-25.5

Luggage space

5

Fair

Good

Excellent

Good-Excellent

Performance on road

3

78

85

87

85-100

3) David recently accepted a job in Florida and wants to buy a new condominium. The matrix of possible outcomes is given in the table below. What can David conclude using nondimensional scaling and additive weighting?

Attributes

 

Weight

 

Alternative

I

Alternative

II

Alternative

III

Acceptable Range

 

Price

0.30

$220,000

$270,000

$320,000

$220,000-$320,000

Outside view

0.20

9

8

7

8-10

Distance from work

0.25

11

21

36

11-21

Neighborhood

0.10

Good

Fair

Excellent

Good-Excellent

Expected increase in property

value at the end of 5 years

0.15

19%

11%

16%

11%-$16

4) A couple, both recently graduated engineers, are deciding on some details for their honeymoon. They have looked at a "honeymoon suite review" for their hotel of interest on the internet and have developed a matrix of outcomes that is presented in the table below. They decide to use the satisficing, nondimensional scaling, and additive weighting methods to help make their decision. Assume the nondimensional values given to the ratings were excellent = 1.0, good = 0.8, fair = 0.5, and poor = 0.1. What can they conclude?

Attributes

Weight

Alternative I

Alternative II

Alternative III

Acceptable Range

Cost per night

0.21

$29,000

$27,000

$26,000

$26,000-$30,000

Hotel condition

0.20

Good

Good

Excellent

Good-Excellent

Hotel service

0.33

89

91

97

92-100

Room cleanliness

0.16

96

98

99

96-100

Room comfort

0.28

90

95

100

95-100

5) A leading fashion magazine is planning for its first swimsuit cover of this year. Three swimsuit models are nominated in the meeting. The editor has developed the matrix of outcomes for each model and their attributes in the table below. Demonstrate what the editor can conclude using each of the dominance, satisficing, disjunctive resolution, lexicography, and additive weighting methods.

Attributes

Weight

Model A

Model B

Model C

Acceptable Range

Model fee

0.33

$30,000

$29,000

$31,500

$29,000-$35,000

Disposition

0.18

89

96

94

94-100

Quality of shooting portfolios

0.28

89

96

94

89-100

Physical attributes

0.48

92

93

91

92-100

Popularity

0.26

86

96

87

87-100

Solution
5 (1 Ratings )

Solved
Economics 2 Years Ago 293 Views
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