Problem
Activity 1: Three new-product ideas have been suggested. These ideas have been rated as shown in the Table below Product* Criteria ABC Weight (%)Development cost PFVG10 Sales prospects VGEG15 Producibility PFG10 Competitive advantage EVGF15 Technical riskPFVG20 Patent protection FFVG10 Compatibility with strategyVGFF20 100* P = poor, F = fair, G = good, VG = very good, E = excellent
• Using an equal point spread for all five ratings (i.e., P = 1 , F = 2 , G = 3 , VG = 4 , E = 5 P=1, F=2, G=3, VG=4, E=5), determine a weighted score for each product idea. What is the ranking of the three products?
• Rank the criteria, compute the rank-sum weights, and determine the score for each alternative. Do the same using the rank reciprocal weights.
• What are some of the advantages and disadvantages of this method of product selection?.
Activity 2: Using MAUT and the AHP, perform an analysis to select a graduate program. Explain your assumptions and indicate which technique you believe is most appropriate for this application.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.