Electra wants to purchase a laptop for use in her MBA program so she can work on assignments and surf the web while the professor drones on endlessly
After consulting with her colleagues, she chooses the dimensions of cost, weight, processor speed, and touchscreen capability as critical to her long term success and amusement. She evaluates four different laptops and rates their performance on each criterion on a scale from 1 (poor) to 5 (excellent). She is struggling with her assessment of the importance of the Cost criterion. As an avid lottery player, she is pretty sure that tonight's drawing will result in at least a two number match on the ticket she bought on the way to class and it could mean a three-number match. Given her uncertainty, she would like to choose the laptop that performs the best overall across the entire spectrum of possibilities of the outcome of tonight's lottery. Which would you recommend?
Dimension Importance Sir Face Toybook Air Knockoff High Priced
Weight 3 4 4 3 5
Speed 5 4 4 4 3
Cost ?? 2 4 5 1
Touchscreen 1 5 2 3 3
What will be an ideal response?
Answer: The most robust choice is the Knockoff, as it is the top-ranked alternative for four of the five possible importance weights for the Cost criterion. Not only does it perform well in four out of the five possible values, but it should be noted that it does so in the most likely outcomes of the lottery drawing this evening. It is highly likely that Electra will not win the lottery, and assuming Electra is a financially-strapped student, the Cost criterion should probably be weighted as a 5 (losing lottery, so money is tight) than as a 1 (winning lottery and therefore cost is not an important consideration).
This table shows the value index for each alternative under the five different importance values for the cost criterion. Highest scores are highlighted.
Alternatively, the data in this table can be graphed to illustrate the preference shift as the importance of cost varies.
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