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68 Decisions involving multiple objectives: SMART
Hotel Alton Buttermere Castle Dorset Elm
Aggregate score 17.2 51.2 34.0 93.6 85.2
(d) What would Alton’s score have been if rank-sum weights had
been used, instead of the weights given above?
(e) Which hotels lie on the efficient frontier when costs are brought
into consideration?
(f) The organizers would be willing to pay $6000 if a hotel’s
conference facilities could be upgraded from those equivalent
to the worst to those equivalent to the best, all else remaining
equal. Determine which hotel they should choose, stating any
assumptions you have made.
(10) A national television company is hoping to set up an MA course in
Media Management for its managerial staff, in collaboration with
a university. Five universities have submitted bids for the course
and the television company has to make a decision between them.
The company has identified five attributes that are relevant to its
decision problem: (i) the quality of the university’s staff, (ii) the
proposed course structure, (iii) the teaching facilities available at the
university, (iv) the residential facilities available on the university
campus and (v) the cost of the course. For each of the non-monetary
attributes the company has allocated scores to the universities to
assess their performance on that attribute (0 = worst performance
on that attribute, 100 = best). The results are given below.
University Staff
Course
structure
Teaching
facilities
Residential
facilities Cost
Barchester 100 70 90 0 $50 000
Cramwich 30 100 50 30 $70 000
Denford 80 30 100 20 $60 000
Enton 0 20 0 100 $30 000
Flowton 10 0 80 70 $20 000
The company then considered the case of a hypothetical university
that had the worst performance on all the non-monetary attributes.
It then considered which improvement it would most like to make
to this university’s proposal. It was agreed that improving the
course structure to that equivalent to the best course structure
would be the most desirable. Improvements from the worst to best
performance in staff, teaching facilities and residential facilities