SSAC2007:BF448.SKB1.3 The “Perfect” Date Decision Making-A Ranking and Rating Spreadsheet to Find the “Perfect” Date Core Quantitative Concepts and Skills Weighted sums eMATcH Online Dating Service Excel Skills Absolute cell Sort Function Prepared for SSAC by Semra Kilic-Bahi - Colby-Sawyer College, New London, NH 1 © The Washington Center for Improving the Quality of Undergraduate Education. All rights reserved, 2007. Background and Overview When we need to make a decision, we often need to consider many factors. The process can easily get complicated when the number of factors and objectives involved is increased. Another difficulty is the mix of quantitative and qualitative aspects involved in the process. However, we often make decisions based on ratings. Every year, we are given a list of “Best Colleges to Attend” or “Best Cities to Live in.” In this module, we will informally explore how these rating systems might be set up to give us some insight into these types of studies. This includes: – the factors involved – how the factors are rated according to a scaling criteria – how each factor is weighed in the final ranking process. 2 Background and Overview The term ranking is used to ascribe a level or position in a hierarchy. The term rating is used to assess the quality or worth of things. Throughout this module, we will use the term rating when we are appraising the value of the things. We will use the term ranking when we are doing the overall ordering of the choices according to the magnitude of the weighted sums. Slides 4 presents the problem to be solved. Slides 5-6 give an example to demonstrate the basic concepts. Slides 7-11 solve the problem. Slide 12-13 present the end of module assignments. 3 Problem – eMATcH Dating Service Problem: Suppose you have subscribed to an online dating service, eMATcH, to find a partner. Here is the compilation of the dating profiles of eight candidates who responded to the personal profile you provided. Candidates rate the last six attributes on a scale of 1 to 7, with “7” being the most and “1” being the least favorable. Decide which candidate will make the most-compatible date from the information in the table. A B C D E F G 35 46 28 18 21 22 31 $48,000 $57,000 $40,000 $3,000 $18,000 $15,000 $29,000 64 60 62 68 67 66 69 60 30 90 235 130 69 12 H 26 $50,000 71 56 Ph.D. High School Master High School Bachelor High School Middle School Master Organized M Likes Reading L Likes Dining out K Likes Animals J Fit I Stylish H Education Level G How far away the person lives (miles) F Height (inches) E Salary 9 10 D Age 2 3 4 5 6 7 8 C Candidate B 7 2 1 5 6 3 2 1 3 5 4 6 1 2 2 3 7 3 5 7 4 5 1 2 4 7 3 2 7 4 1 6 7 2 7 6 7 5 3 4 2 6 5 7 6 5 4 3 4 Example-which job to choose? Before working through the eMATcH dating table, we will consider a lessinvolved problem. Suppose we are trying to decide between two job offers and we are basing our decision on two factors, the “salary” and the “location.” Job Salary Location A 48,000 Bestville B 67, 000 Troublecity We like the higher salary of Job B, but we prefer the location for Job A. So, if we try to rate each factor on a scale of 1 to 2, where “2” is the most preferred , we will have Job Salary Location A 1 2 B 2 1 5 Example-which job to choose? Now, we need to decide which attribute is more important for us, the salary or the location. If “salary” is more important than the “location”, then by using the same scale, we will assign “2” points for salary, and “1” point for the location. Then, the weighted sum for each job can be calculated as: Job Salary Salary Weight Location Location Weight Job A 1 2 2 1 4 Job B 2 2 1 1 5 6 Rating - AGE 35 46 28 18 21 22 31 26 C Age A B C D E F G H 2 3 4 5 6 7 8 9 10 B Candidate C Age 2 3 4 5 6 7 8 9 10 B Candidate Now, let’s go back to the problem –eMATcH dating service- presented at the beginning of the module. For the characteristic of AGE, we will set up a rating by using a scale of 1 to 7, where our most-preferred age receives a “7” and the least preferred gets a “1.” We observe that the youngest candidate is 18 years old and oldest candidate is 46 years old. The following is a possible rating: (Note that some rating scores are used more than once, and some are not used at all. The choice is up to the person making the decision.) A B C D E F G H 5 7 2 1 1 1 3 2 7 Rating Continued C D E F G H I Age Salary Height (inches) How far away the person lives (miles) Education Level Stylish Fit Likes Animals Likes Dining out Likes Reading Organized 2 3 4 5 6 7 8 9 10 B Candidate Let’s continue rating for the characteristics of SALARY, HEIGHT, HOW FAR AWAY THE PERSON LIVES, and EDUCATION LEVEL by using the same scale, 1 to 7, in which our most-preferred rating receives a “7” and the least preferred gets a “1.” Here is a possible rating: A B C D E F G H 5 7 2 1 1 1 3 2 5 7 4 1 2 2 3 6 6 4 4 7 7 7 7 6 5 6 3 1 2 4 7 5 7 3 6 3 5 3 1 6 7 2 1 5 6 3 2 5 1 3 5 4 6 1 2 7 2 3 7 3 5 7 4 6 6 7 5 3 4 2 6 3 J K 5 1 2 4 7 3 2 5 L 7 4 1 6 7 2 7 4 M 8 Weighting the attributes Now we convert our rating tool into a spreadsheet to calculate an overall ranking on the next slide. We start by inserting a row of weights (Row 3). Recreate this spreadsheet. For homework, you will need to assign weights for each characteristic, using a scale of 1 to 7, where 7 is the most-important characteristic, and 1 is the least important for you. For now, use the values in this spreadsheet so you can check your calculation when you complete the spreadsheet in the next slide. Organized M Likes Reading L Likes Dining out K Likes Animals J Fit I Stylish H Education Level G How far away the person lives (miles) F Height (inches) E Salary D Age 2 3 4 5 6 7 8 9 10 11 C Candidate B WEIGHTS A B C D E F G H 6 5 7 2 1 1 1 3 2 5 5 7 4 1 2 2 3 6 3 6 4 4 7 7 7 7 6 4 5 6 3 1 2 4 7 5 7 7 3 6 3 5 3 1 6 4 7 2 1 5 6 3 2 5 4 1 3 5 4 6 1 2 7 4 2 3 7 3 5 7 4 6 6 5 1 2 4 7 3 2 5 6 7 4 1 6 7 2 7 4 5 6 7 5 3 4 2 6 3 = Cell with a number in it = Cell with a formula in it 9 Weighted Sums Add a column to your spreadsheet to calculate the weighted sums. For each characteristic, we will multiply rating for the candidate by the assigned weight for the characteristic and then add them all up to find the weighted sum for each candidate. That is, we have the following formula in Cell N4 for candidate A: Isn’t this long formula equivalent to =SUMPRODUCT(C4:M4, $C$3:$M$3) ? C D E F G H I J K L M Age Salary Height (inches) How far away the person lives (miles) Education Level Stylish Fit Likes Animals Likes Dining out Likes Reading Organized WEIGHTED SUM 2 3 4 5 6 7 8 9 10 11 B Candidate =C4*$C$3+D4*$D$3+E4*$E$3+F4*$F$3+G4*$G$3+H4*$H$3+I4*$I$ 3+J4*$J$3+K4*$K$3+L4*$L$3+M4*$M$3 N WEIGHTS A B C D E F G H 6 5 7 2 1 1 1 3 2 5 5 7 4 1 2 2 3 6 3 6 4 4 7 7 7 7 6 4To extend 7 this 4formula 4 to4 6 5calculate7 the weighted 7 1 sum 2 for 5 6other candidates, 3 2 click 3 on 3 N4,1 3move the 6 cursor 1 to the 5 lower7 2 1right corner 3 of 5the cell, 4 drag 3 4 2the fill handle 5 6 6 down 5 7 to 4N11. 3 3 1 7 3 7 1 2 2 4 2 5 6 5 7 6 5 6 7 4 1 6 7 2 7 4 5 6 7 5 3 4 2 6 3 284 231 193 180 252 158 205 263 10 Weighted Sums If we order the weighted sums from the largest to smallest values by using the “SORT” function, we will rank the compatibility of each candidate according to our ranking process. B C D E F G H I J K L M Candidate Age Salary Height (inches) How far away the person lives (miles) Education Level Stylish Fit Likes Animals Likes Dining out Likes Reading Organized WEIGHTED SUM 2 3 4 5 6 7 8 9 10 11 SORTING: Highlight the “Weighted Sums” column. On the Home tab, in the Editing group, click Sort & Filter, select “Expand the selection” option and then click Sort Largest to Smallest. N WEIGHTS A H E B G C D F 6 5 2 1 7 3 2 1 1 5 5 6 2 7 3 4 1 2 3 6 6 7 4 7 4 7 7 4 5 5 2 6 7 3 1 4 7 7 6 5 3 1 6 3 3 4 7 5 6 2 2 1 5 3 4 1 7 6 3 2 5 4 1 4 2 6 5 3 4 7 3 7 6 5 5 7 1 2 2 4 3 6 7 4 7 4 7 1 6 2 5 6 3 4 7 6 5 3 2 284 263 252 231 205 193 180 158 11 End of Module Assignments 1. Copy and paste the following table into an Excel worksheet. M Organized L Likes Reading K Likes Dining out J Likes Animals I Fit H Stylish 9 10 G 7 2 1 3 2 3 5 1 7 4 6 7 Master High School 1 5 5 4 7 3 2 4 1 6 5 3 130 69 Bachelor High School 6 3 6 1 5 7 7 3 7 2 4 2 69 12 Middle School 2 2 4 2 7 6 71 56 Master 5 7 6 5 4 3 How far away the person lives (miles) 8 F Height (inches) 6 7 E Salary 4 5 D Age 2 3 C Candidate B Education Level a) Rate the characteristics of AGE, SALARY, HEIGHT, HOW FAR AWAY THE PERSON LIVES, and EDUCATION LEVEL, on a scale of 1 to 7, where “7” is the most and “1” is the least preferred. b) Determine the weight you want to assign to each characteristic as we did in Slide # 9, by using a scale of 1 to 7 where “7” is the most and “1” is the least preferred. c) Calculate the weighted sum for each candidate. Which candidate has the highest weighted sum? Which candidate has the lowest weighted sum? d) In part b, use a scale of 1 to 10, where “10” is the most and “1” is the least preferred and recalculate the weighted sum for each candidate. Which candidate has the highest weighted sum? Which candidate has the lowest weighted sum? A B 35 46 $48,000 $57,000 64 60 60 30 C D 28 18 $40,000 $3,000 62 68 90 235 E F 21 22 $18,000 $15,000 67 66 G 31 $29,000 H 26 $50,000 Ph.D. High School 12 End of Module Assignments WHICH ONE OF THE FOLLOWING CITIES WOULD YOU LIKE TO LIVE IN? Use the following data and rate the characteristic of POPULATION, MEDIAN FAMILY INCOME, SALES TAX, JOB GROWTH, MEDIAN HOUSING PRICE, HIGHEST TEMPERATURE IN JULY, AND LOWEST TEMPERATURE IN JANUARY by using a scale of 1 to 7, where “7” is the most and “1” is the least. Determine the weight for each characteristic. Calculate the weighted sum for each city. Which city has the highest weighted sum? Which city has the lowest weighted sum? H I Cities Lowest Temperature in January G Highest Temperature in July7 F Median Housing Price E Job Growth D Sales Tax 2 3 4 5 6 7 8 9 10 C Median family income B Population 2. A B C D E F G H 17,400 8,500 19,500 13,200 35,900 18,800 25,700 22,500 $60,126 $48,824 $58,231 $72,334 $60,758 $84,267 $102,456 $94,385 0.00% 5.50% 0.00% 8.10% 7.00% 8.30% 7.00% 5.00% 10.81% 13.02% 10.17% 3.68% 18.22% -0.76% 35.22% 2.79% $326,223 $290,269 $428,329 $322,812 $321,173 $643,549 $173,774 $527,670 81.4° 80.6° 82.9° 87.2° 91.9° 88.7° 87.4° 81.2° 7.7° 6.2° 8.7° 19.2° 47.0° 41.5° 11.6° 18.1° 13
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