Question: 1. Considering a decision-making problem that you will be choosing the best school car for yourself out of four alternatives. There are four factors affecting

1. Considering a decision-making problem that you

1. Considering a decision-making problem that you will be choosing the best school car for yourself out of four alternatives. There are four factors affecting your decision: price, style, reliability, and fuel efficiency. Four alternative vehicles are: Ford fusion, Toyota Corolla, GM Chevrolet, and Honda Civic. The table below shows the information available to you for these four alternative vehicles with respect to four factors affecting your decision (mock data for this assignment problem use only). Reliability Fuel Efficiency Job Location Price Style (faults per year) (mpg) Ford Fusion $21K Very Good 2.4 25 Toyota Corolla $25K Good 1.2 28 GM Chevrolet $20K OK 1.9 22 Honda Civic $26K Excellent 1.5 29 As the decision maker, please use the Multi-Attribute Utility Theory (MAUT) for this decision- making problem. (Please feel free to provide the importance weights based on your own opinion for individual attribute levels, and use the swinging weights with direct rating approach ( with O for the benchmark, and 100 for the best hypothetical alternative) to determine the relative weights between attributes) 2. For problem 1, please conduct the sensitivity analysis of your decision with respect to any two rates in between 0 and 100 that you have assigned for of the hypothetical alternatives

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!