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Utility Scales Essay

684 words - 3 pages

Utility Scales
Stan Heister
Argosy University
Solution-Oriented Decisions Models | B7783
Adolfo Gorriaran
May 15, 2014

Utility Scales
Introduction
Interestingly, when a person is young the number and types of jobs in which they are willing to accept seems to be quite expansive but as we age, that number narrows due to experience, education and learned preferences. Since the author has spent in excess of twenty five years in the professional workforce, the types of positions that are attractive has tapered to a fraction of the potential positions for consideration even ten years ago. Below is a list of five positions that would be acceptable.
1. University Professor
2. ...view middle of the document...

Decision aids such as utility scales that have many different criteria can be referred to as multivariate utility models (MAU) which help to both predict and explain decisions (Boudreau, 1988). There are several steps to constructing a utility model including: 1) document the identified decision criteria or options, 2) assign and weigh attributes that are important to the individual for each of the options, 3) measure each attribute via the use of a utility scale and 4) compute the attribute values for each option to obtain an overall utility value for each option (Boudreau, 1988). The use of utility theory and models can provide insight into what decision makers should do versus what the ultimate decision was, based on the subjective measures that are applied during the process (Birnbaum & Sutton, 1990). Below is an example of a decision on which profession would be most beneficial given four separate attributes with values and weighted measures.
Figure 1 Utility Scale
Figure 2 Scatter Graph
The scatter graph above indicates the plotted points and related lines for each of the attributes measured.
Summary
Utility scales are very helpful for decision making...

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