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To satisfy peoples wants and needs we must make decisions. Good decision makers need to
know
how to identify the problem and analyze all alternatives in a way that
considers costs and benefits. One approach to decision-making is the decision-making grid.
Recall Figure 1.4, p. 15 what would you do with 50 dollars? In this example, Jesse decided to
spend $50.00 on jeans. His opportunity cost was the next best choice soccer ball or
cassette player that he gave up.
Directions: Fill in four current possibilities you are considering for after graduation (i.e. 4
different colleges, military, bum in parents basement, etc). Decide on the weight or
importance of each criterion to you individually and fill in the appropriate row. Rate the criterion
for each choice from 1 (poor) 4 (exemplar) based on how well it meets that criterion. Lastly,
multiply each number by the weight of that criterion and add the total scores for each option.
Example:
Criteria Affordability Location Extra- Overall Appeal Total Score
Curriculars and Long-term
Benefits
Weight x 5 x 2 x 3 x4
1. In the end, which option satisfied more of the criteria than any other alternative?
In the end, the school that satisfied more of the criteria than any other alternative was the
University of St. Francis because it had the highest score out of any of the other schools.