The Rational Decision Making Process

1. Step 1: Identify the Problem.

2. Step 2: Establish Decision Criteria.

3. Step 3: Weigh Decision Criteria. ...

4. Step 4: Generate Alternatives.

5. Step 5: Evaluate Alternatives. ...

6. Step 6: Select the Best Alternative.

Its time to Purchase a New Vehicle!!

The Rational Decision Making Matrix You are trying to decide which of 3 vehicles you will purchase after graduation (real vehicles but hypothetical). Select 3 different vehicles then utilize the rational decision matrix provided to you to compare and contrast the 3 vehicles while deciding which to purchase. After making your choice, you will write a summary of your decision making process. In your summary answer the questions that are listed below the rational decision matrix.

1. Give each criteria a weight from 1 to 5.

2. Choose 3 different vehicles you would want to buy.

3. Rank those vehicles from 1 to 3 based on their specs.

4. Add your weight and rank together for the total.

5. The lower the number is, the better the vehicle should be for you.

Alternatives
		Vehicle A		Vehicle B		Vehicle C
Criteria	Weighting
		Rating	Total	Rating	Total	Rating	Total
Available Space
Engine Power
Fuel Milage
Purchase Price
Reliability
Total

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Now write a description of your use of the decision making matrix. In your description, include the following information:

• What vehicle were you inclined to purchase before using your decision matrix.

• How does the decision matrix assist you in making an informed decision?

• Did the use of the rational decision matrix change your selection of the vehicle you are going to purchase? Explain why it did or did not affect your decision.