Allocating Weights to the Decision Criteria Is Unnecessary If

question 16

Multiple Choice

Allocating weights to the decision criteria is unnecessary if

• A)all criteria are relevant.
• B)all criteria are equally relevant.
• C)there are only two.
• D)there are three or more criteria.
• E)a team is not making the decision.

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Definitions:

Utility Schedule

A representation that shows various quantities of a commodity or service and the utility or satisfaction derived from each.

Marginal Utility

The augmented satisfaction or value derived from the consumption of one extra unit of a product or service.

Total Utility

Measures the total satisfaction or benefit that a person derives from consuming a certain quantity of a good or service.

Utility Schedule

A table showing the different levels of utility or satisfaction derived from consuming varying amounts of a good or service.