d_ij=x_ij/(∑_(i=1)^m▒x_ij ) q_j (6) Where; x_ij is the value that corresponds measure of performance of the i -th alternative and j -th attribute and q_j represents the weight of ach attribute. d_ij represents dimensionless weighted value. The weights of attributes can be calculated using Equation (7). q_j= ∑_(i=1)^m▒d_ij (7) The alternatives are distinguished by beneficial (maximizing) attributes and cost (minimizing) attributes. 〖s+〗_i= ∑_(j=1)^n▒d_ij (8) 〖s-〗_i= ∑_(j=1)^n▒〖d_ij (9)〗 Where; 〖s+〗_i refers to sum of elements in the weighted normalized matrix that corresponds to beneficial attributes. On the other hand, 〖s-〗_i refers to sum of elements in the weighted normalized matrix that corresponds to cost attributes. …show more content…
N_j=Q_i/Q_max *100% (11) Grey Relational Analysis The process of grey relational analysis is divided into four steps are (Kuo et al 2008): Grey Relational generating is normalization process for performance attributes. Equation (12) is used to normalize beneficial attributes (the higher value the better option). Equation (13) is used to normalize non-beneficial attributes (the lower value the better option). Equation (14) is used to normalize attributes where the closer to the desired value (x_j*) the better option. y_ij=(x_ij-min{x_ij,i=1,2,………m})/(max{x_ij,i=1,2,………m}-min{x_ij,i=1,2,………m}) (12) y_ij=(max{x_ij,i=1,2,………m}-x_ij)/(max{x_ij,i=1,2,………m}-min{x_ij,i=1,2,………m}) (13) y_ij=(〖|x〗_ij-x_j*|)/(max{x_ij,i=1,2,………m}-min{x_ij,i=1,2,………m}) (14) Reference sequence generation is the second step where performance values are defined within the range [0,1]. For cost category is the lowest value while benefit category is the highest value. Grey Relational coefficient generation is the third step. The aim of this step is to determine whose compatibility sequence is closest to the reference sequence. Grey relational coefficient is calculated using equation …show more content…
The grey relational grade is calculated using equation (15). The best alternative is the alternative with the highest relational grade. r(y_0,y_i)= ∑_(j=1)^n▒〖w_j*〗 γ(y_0j,y_ij) (19) TOPSIS Technique TOPSIS decision making technique is divided into five main steps (Triantaphyllou 1998): The decision matrix is normalized where the purpose of this step is to convert performance attributes into non-dimensional ones. r_ij=x_ij/(∑_(i=1)^m▒〖x²〗_ij ) (20) The weighted normalized matrix is obtained using equation (21). v_ij=r_ij* w_j (21) The ideal and negative ideal solutions are determined. A* indicates the most preferable alternative or ideal solution. On the contrary, A- indicates the least preferable alternative or negative ideal solution. For benefit criteria, decision maker wants to obtain the maximum value among all alternatives. On the other hand, the decision maker wants to obtain minimum value among all alternatives for cost criteria. A*={(max v_ij│j Є J ),(min v_ij│j Є J^' ),i=1,2,3,……….M}={〖v*〗_1,〖v*〗_2………..〖v*〗_N} (22) A-={(min v_ij│j Є J ),(max v_ij│j Є J^' ),i=1,2,3,……….M}={〖v-〗_1,〖v-〗_2………..〖v-〗_N}
A cost-benefit analysis is “whenever people decide whether the advantages of a particular action are likely to outweigh its drawbacks” (Benefit-Cost Analysis, n.d.). The analysis estimates the economic value placed upon a
It is used to measure the position of a firm in relation to its relative market share as well as its market growth. Based on this the situation where in all of the given four divisions of the firm are at different levels of performance can be evaluated in order to formulate a 5 year strategy plan. This can help in the creation of a portfolio where in returns are optimized by re investing in growth oriented sectors and divesting out of the sectors that are saturated and loss making for the firm.
University of Phoenix. (2004). Riordan Manufacturing Inc [Computer Software]. Retrieved from University of Phoenix, Simulation, BSA310 BUSINESS SYSTEMS website.
these values are joined by a common value system which is determined by a set of
The solution found by planners to varied situations in practice very dependent on the certain criteria like social, economic, environmental, and political. The evaluation of a solution on these criteria defines the success of a solution.
indicates towards a fraud. On eof the most important qualities or benefits of this model is that it understands the pattern in the data and generates the result. Once the result is generated the model checks as to how close was the result from the actual results. Based on this analysis the model adjusts its weights to give an accurate result the next time. Once this model has been trained to give accurate results, it can be used to analyze other data as well. Even when Neural Networks are widely accepted, they are not really used that much in the marketing industry merely by the fact that data preparation for this model is very complex time consuming as compared to the Regression Analysis. The marketers are much comfortable using the Regression Analysis over Neural Networks because of the ease of interpreting the results in the Regression Analysis.
Let us see now how this algorithm works. The algorithms randomly creates solutions. Each one of these solutions has a fitness value based on some criteria. Those solutions of a specific problem are also called Phenotype, while the encoding of each solution is called Genotype. We refer on Representation as the procedure of establish the mapping between genotypes and phenotypes. Representation is used as in two different ways. As mentioned before, representation establish the mapping between the genotype and the phenotype. This means that representation could encode ore decode the candidate solutions.
“Marginal analysis involves changing the value(s) of the choice variable(s) by a small amount to see if the objective function can be further increased (in the case of maximization problems) or further decreased (in the case of minimization problems)” (Thomas & Maurice, 2012, pp. 91). Marginal analysis is known as “the central organizing principle of economic theory” for its importance and applicability to many aspects of our daily lives as well as our careers (Thomas & Maurice, 2012, pp. 94). The key concepts of marginal analysis include total benefit, total cost, marginal benefit, marginal cost and net benefit. These concepts all come together to play a significant role in the use of marginal analysis to reach the optimal desired outcome.
There are three different types of theoretical perspectives that are used to describe society and how it works. Structural functionalism describes society as a system of different structures that work together to support a system, such as a government. A government is made up of educated individuals who in turn, support the education system to teach new individuals the political system. As the government continues to provide for the education system, the education system provides politicians and individuals who will work for the government (Larkin, 2015, para. 8). Conflict theory is the opposite of structural functionalism and states that society works as a constant battle for power, resources and prestige. It also states that there is a limited amount of
[7] Elmasri & Navathe. Fundamentals of database systems, 4th edition. Addison-Wesley, Redwood City, CA. 2004.
This essay will address actions of individuals and the contribution individual actions make to the social structure, how society flows to the actor via the “Me” and is constructed or reconstructed by the “I,” giving the “I” a place in creating society. I will further analyze the theories and explore the impact of norms and values on the decisions by the actors.
distinguishes a tie between people that will provide that interaction as well as keep the interaction consistent on a regular basis.
Then classification is performed on the basis of similarity score of a class with respect to a neighbor.
This makes all employees across all divisions equal when it comes to performance and development planning. Also, by implementing categories for each employee, supervisors can use the scoring system to see exactly where gaps and weaknesses are in the team. Once gaps and weaknesses are identified, performance and development planning can be constructed accordingly. Basically the new performance management system allows supervisors of the organization to identify, address, and resolve any sort of employee performance issues or concerns. This can lead to higher buy-in of the organization, and an increase in overall
...and Eclat. The classification is based on the features such as the technique, memory utilization, database and time of each individual algorithm. The essential information of all the algorithms is clearly summarized in Table 6, discussed in the paper.