This help topic is a tutorial which will help you understand how to
use VISA to explore a multi-criteria decision situation.
Loading a Previously Stored Model
When you run VISA for the first time you will be asked if you
want to load the Example model. If
Chapter 3 Answers to Exercises
Question 2
Package
Ease
Use
100
90
50
0
20
40
85
Super Quill
Easywrite
Wordright
Lexico
Ultraword
Keywrite
Fastwrite
Raw wts
Norm wts
of Facilities
Available
30
70
20
40
100
0
55
100
62.5
60
37.5
Sum
160
a)
100
F acilitie s
Decisions involving multiple
objectives: SMART*
(Chapter 3)
* [Simple Multi-Attribute Rating Technique]
1
Objectives and Attributes
An objective is an indication of preferred
direction of movement. i.e. minimize or
maximize.
An attribute is used to meas
Methods for eliciting
probabilities
(Chapter 11)
1
Verbal expressions of probability
Write a single number (in the interval [0,1]) that
best equate your understanding of the words:
1. Very probable
2
Verbal expressions of probability
Write a single number
Revising judgement in light of
new information
(Chapter 9)
1
Sometimes we start with an estimation, say
that there is an 80% probability that sales
would exceed the break-even results, but
then receive new information (from a
market research survey) that
Chapter 12
Decisions Involving
Groups of Individuals
1
We have focused on the individual
decision maker, but important
decisions are often made by
accountable managers working within
small groups of people, most, or all, of
whom have information that coul
Decision making under
uncertainty
(Chapter 6)
1
The maximin criterion
A decision table for a food manufacturer
(each batch costs 800; yields 1000 if sold, 0 o.w)
(Daily profits)
Course of action
Produce 1 batch
Produce 2 batches
Demand (no. of batches)
1
Decisions involving multiple
objectives: Advanced topics
(Chapter 3)
1
An office location problem
Location of office (the alternatives)
Addison Square
Bilton Village
Carlisle Walk
Denver Street
Elton Street
Filton Village
Gorton Square
2
Costs associated
Chapter 3
Decisions Involving
Multiple Objectives:
SMART
1
Objectives and Attributes
An objective = an indication of
preferred direction of movement,
i.e. minimize or maximize
Minimize costs or maximize market share
2
An attribute is used to measure
perfo
Chapter 10
Methods for
Eliciting Probabilities
1
Preparing for probability
assessment
Motivating
Structuring
Conditioning
2
Motivating
This phase is designed to introduce the
decision maker to the task of assessing
probabilities and to explain the
importa
Biases in probability
assessment
(Chapter 10)
1
Warm up questions
Q1. Rank the following causes of death from
most to least likely:
1.
2.
3.
4.
5.
Assault by a knife
A fall
Firearm discharge
Being bitten or struck by a dog
Car accident
2
Q2. 8% of people
Introduction to
Decision Analysis
(Chapter 1)
1
Management decisions are often
complex because they involve:
1. Risk and uncertainty
2. Multiple objectives
3. Elaborated structure
4. Multiple stakeholders
2
Why people have problems coping
with this comple
Decisions involving multiple
objectives: descriptive
(Chapter 2)
1
Examples of decisions involving multiple
objectives
Choosing a holiday
liveliest nightlife
least crowded beaches
most sunshine
most modern hotels
lowest cost
Choosing a company to s
