Home |
Search |
Today's Posts |
#1
posted to rec.boats
|
|||
|
|||
Boat Buying using MADM
One technique for multiple attribute decision making is to develop a
weighted matrix listing the criteria used for the decision compared to the objects being considered. We'll use three boats as an example, Boat Alpha, Boat Bravo, and Boat Charlie. We must first identify the criteria which are important to us. For this example, I've chosen: Looks, Speed, Cost, and Length First we will determine the relative value of each criterion as compared to each other. I'll let Looks have a 1.0 value. Then I have to ask myself, is speed more or less important than looks. Let's say speed is half again as important as looks, then speed would get a value of 1.5. Each of the criteria are so weighted. Cost may be twice as important as looks, so it would get weighted with a 2.0. Length isn't as important as looks, so it gets a 0.8 Now we have to weight each boat in terms of the criteria. We'll use a number from 1 to 10 to weight each. Alpha is pretty ugly. Charlie is gorgeous. Alpha is the fastest, but not quite as fast as I'd like. Charlie is a dog. Bravo is the least costly, with Alpha not far behind. Charlie is quite expensive. Length is easy. I want a long boat, and Bravo is the longest. Alpha is the shortest. Alpha Bravo Charlie Looks 4 6 10 Speed 8 5 3 Cost 7 9 2 Length 3 8 5 Now I apply the weight of the criteria to the score of each boat, and then get the total for each boat. Alpha Bravo Charlie Looks (1.0) 4 6 10 Speed(1.5) 6 7.5 4.5 Cost (2.0) 14 18 4 Length(0.8) 2.4 6.4 4.0 Totals 26.4 37.9 22.5 And the winner is Charlie! Of course, for an actual selection many more criteria would be involved. And, the technique can be much more specific by using pairwise comparisons for each of the criteria. I used a simple comparison of each criterion to speed, but it could be that comparing length to cost, length should not be less than half as important as cost. When done with a computer program, the results can be used to show 'consistency' (or lack thereof) in the weight of each criteria. This technique was used, and may still be, as a way to evaluate officers for selection to promotion or command positions in the Army. |
Thread Tools | Search this Thread |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Forum | |||
Buying my First Boat | General | |||
Buying a Used Boat | General | |||
Looking at buying a boat | General | |||
"Chesapeake Bay Boat Buying" followup/Boat search update | Cruising | |||
buying a boat | Cruising |