Purchasing a Used Car Using Multiple Criteria Decision Making

2007 ◽  
Vol 101 (2) ◽  
pp. 126-135
Author(s):  
Thomas G. Edwards ◽  
Kenneth R. Chelst
Keyword(s):  
Decision Making ◽  
Mathematics Curriculum ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Decision Making Process ◽  
Optimum Choice ◽  
Used Car

A Multiple Criteria Decision Making process (MCDM) in which students assign a numerical value to each alternative in a situation, and compute the highest value in order to quantify the optimum choice. MCDM can be used in making decisions such as choosing the best car or right college. This lesson can be used across the mathematics curriculum.

scholarly journals A New Grey Approach for Using SWARA and PIPRECIA Methods in a Group Decision-Making Environment

Mathematics ◽  
2021 ◽  
Vol 9 (13) ◽  
pp. 1554
Author(s):  
Dragiša Stanujkić ◽  
Darjan Karabašević ◽  
Gabrijela Popović ◽  
Predrag S. Stanimirović ◽  
Muzafer Saračević ◽  
...  
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Group Decision ◽  
Multiple Criteria Decision Making ◽  
Grey System Theory ◽  
Multiple Criteria ◽  
Decision Making Process ◽  
Grey System ◽  
Criteria Weights

The environment in which the decision-making process takes place is often characterized by uncertainty and vagueness and, because of that, sometimes it is very hard to express the criteria weights with crisp numbers. Therefore, the application of the Grey System Theory, i.e., grey numbers, in this case, is very convenient when it comes to determination of the criteria weights with partially known information. Besides, the criteria weights have a significant role in the multiple criteria decision-making process. Many ordinary multiple criteria decision-making methods are adapted for using grey numbers, and this is the case in this article as well. A new grey extension of the certain multiple criteria decision-making methods for the determination of the criteria weights is proposed. Therefore, the article aims to propose a new extension of the Step-wise Weight Assessment Ratio Analysis (SWARA) and PIvot Pairwise Relative Criteria Importance Assessment (PIPRECIA) methods adapted for group decision-making. In the proposed approach, attitudes of decision-makers are transformed into grey group attitudes, which allows taking advantage of the benefit that grey numbers provide over crisp numbers. The main advantage of the proposed approach in relation to the use of crisp numbers is the ability to conduct different analyses, i.e., considering different scenarios, such as pessimistic, optimistic, and so on. By varying the value of the whitening coefficient, different weights of the criteria can be obtained, and it should be emphasized that this approach gives the same weights as in the case of crisp numbers when the whitening coefficient has a value of 0.5. In addition, in this approach, the grey number was formed based on the median value of collected responses because it better maintains the deviation from the normal distribution of the collected responses. The application of the proposed approach was considered through two numerical illustrations, based on which appropriate conclusions were drawn.

scholarly journals THE METHODS OF SENSITIVITY ANALYSIS AND THEIR USAGE FOR ANALYSIS OF MULTICRITERIA DECISION / JAUTRUMO ANALIZĖS METODAI IR JŲ NAUDOJIMAS DAUGIAKRITERINIAMS SPRENDIMAMS ANALIZUOTI

2011 ◽  
Vol 3 (1) ◽  
pp. 25-28 ◽  
Author(s):  
Rūta Simanavičienė ◽  
Leonas Ustinovičius
Keyword(s):  
Decision Making ◽  
Sensitivity Analysis ◽  
Initial Data ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Decision Making Process ◽  
Multicriteria Decision ◽  
Analysis Methods

In this paper we describe the application's fields of the sensitivity analysis methods. We pass in review the application of these methods in multiple criteria decision making, when the initial data are numbers. We formulate the problem, which of the sensitivity analysis methods is more effective for the usage in the decision making process.

scholarly journals Neutrosophic Soft Expert Multiset and Their Application to Multiple Criteria Decision Making

Mathematics ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 50 ◽  
Author(s):  
Derya Bakbak ◽  
Vakkas Uluçay ◽  
Memet Şahin
Keyword(s):  
Decision Making ◽  
Multiple Criteria Decision Making ◽  
Aggregation Operator ◽  
Multiple Criteria ◽  
Decision Making Process ◽  
Algebraic Properties

In this paper, we have investigated neutrosophic soft expert multisets (NSEMs) in detail. The concept of NSEMs is introduced. Several operations have been defined for them and their important algebraic properties are studied. Finally, we define a NSEMs aggregation operator to construct an algorithm for a NSEM decision-making method that allows for a more efficient decision-making process.

A Dynamic and Context-Aware Social Network Approach for Multiple Criteria Decision Making Through a Graph-Based Knowledge Learning

2018 ◽  
pp. 53-74
Author(s):  
Alessandro Di Stefano ◽  
Marialisa Scatà ◽  
Aurelio La Corte ◽  
Evelina Giacchi
Keyword(s):  
Decision Making ◽  
Social Network ◽  
Social Network Analysis ◽  
Network Analysis ◽  
Context Awareness ◽  
Network Dynamics ◽  
Multiple Criteria Decision Making ◽  
Multiple Criteria ◽  
Personal Knowledge ◽  
Decision Making Process

Complexity and dynamics characterize a social network and its processes. Social network analysis and graph theory could be used to describe and explore the connectedness among the different entities. Network dynamics further increases the complexity, as each entity with its personal knowledge, cognitive and reasoning capabilities, thinks, decides and acts in a social network, characterized by the heterogeneity of nodes and ties among them. Social network analysis becomes critical to the decision-making process, where a network node will consider both its personal knowledge and the influences received from its neighbors. Network dynamics and the node's context-awareness affect the relationships among criteria, modifying their ranking in a multiple criteria decision-making process, and hence the decision itself. Thus, the main aim has been to model the decision-making process within a social network, considering both context-awareness and network dynamics. Moreover, we have introduced a process of knowledge-transfer, where the criteria are represented by the knowledge-related values.

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