Finance, Statistics and Decision Making Name: __________________

In Class 1: Making Hard Decisions Multi-Criteria Decision Making (MCDM) Exploration

Section 1.1: Choosing a Cell phone Plan

1) What factors would you consider if you were choosing a cell phone plan?

2) a. Choose one of the plans based on your data. Explain why you chose this plan over the others.

b. What possible issues do you foresee with using these steps to choose a cell phone plan?

MCDM STEPS Section 1.1.2 Identify Criteria and Measures:

3) If you were choosing a cell phone plan, what criteria would be important to you?

4) How would you measure each of your criteria?

5) Of the measures listed in Q4, which are continuous and which are categorical?
Finance, Statistics and Decision Making Name: __________________

In Class 1: Making Hard Decisions Multi-Criteria Decision Making (MCDM) Exploration

MCDM Steps: Section 1.1.3 Collect Data

6) Ideas: 1) Look on the internet for possible cell phone plans and for quality of service.

2) Informally survey classmates to obtain information about the various cell phone plans used by
students in the class.

7) Create a table similar to Table 1.1.3 (Chapter 1, Page5) for your cell phone data.

Plan Name Monthly Minutes per Minimum Free Included Quality of

Charge ($) Month Contract Unlimited Data Plan Service
Length Texting

MCDM Steps: Section 1.1.4 Find the Range of Each Measure

8) Specify the ranges for each of our measures, create a table similar to Table 1.1.4 (Chapter 1, Page 6).