How should the discussions be structured

Reference no: EM13968582

In many cases a group of people must make a decision that involves multiple objectives. In fact, difficult decisions usually are dealt with by committees composed of individuals who represent different interests. For example, imagine a lumber mill owner and an en vironmentalist on a committee trying to decide on national forest management policy. It might make sense for the committee to try to assess a multiattribute "group utility func tion." But assessment of the weights would be a problem because different individuals probably would want to weight the attributes differently. Can you give any advice to a committee working on a problem that might help it to arrive at a decision? How should the discussions be structured? Can sensitivity analysis help in such a situation; if so, how?

Reference no: EM13968582

Questions Cloud

Synopsis on disaster recovery strategies : Write a 1 - 2 page synopsis on disaster recovery strategies in a mid size organization. Along with reference and apa format

Development of the best economic mixture : In making a land-use policy decision, a planner had to consider three objectives: the development of the best economic mixture of industrial and residential uses, the preserva tion of sensitive environmental areas, and satisfying the largest indus..

How many years it take an investment to triple : How many years it take an investment to triple if the interest rate is 7% compounded annually? State the amount accumulated by each of the following present investmens: $4,000 in 10 years at 8% compounded annually.

Calculate the mape for theforecast : After you have selected the best forecasting method, what would you tell your boss is the forecasted sales for January?

How should the discussions be structured : Can you give any advice to a committee working on a problem that might help it to arrive at a decision? How should the discussions be structured? Can sensitivity analysis help in such a situation; if so, how?

Two attribute multilinear utility function : Show that when n = 2, the multiplicative utility function is equivalent to the two- attribute multilinear utility function. (Hint: This is an algebra problem. You must show that one utility function is a scaled version of the other.

Additive independence among attributes : For some of the attributes in your computer decision, you face uncertainty. The additive utility function assessed in Problem 15.17 essentially assumes that additive independence among attributes is reasonable.

Two-attribute utility function : What other attributes are important in a job decision? Would the two-attribute utility function you just assessed be useful as a first approximation if many of the other at- tributes were close in comparing two jobs?

Compute the cost assigned to each food item : Compute the cost assigned to each food item if budgeted sales are used as the allocation base. Compute the cost assigned to each food item if actual sales is used as the base.

User Account

All Pages