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Decision matrix approach

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Reference no: EM131156192

In our decision matrix, Option 1 receives a "3" for reliability and a "2" for cost, and Option 2 receives a "1" for reliability and a "3" for cost.
The reliability criterion has been assigned a weight of 0.4 and the cost criterion has been assigned a weight of 0.6. In accordance with the decision matrix approach, which of the following statements is true?

Option 1 is better than Option 2 because its total weighted score is higher.

Option 2 is better than Option 1 because its total weighted score is higher.

Option 2 is better than Option 1 because its total weighted score is lower.

Option 1 and Option 2 each score a total of 2.5, therefore, either choice is fine.

Reference no: EM131156192

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