Utilityanalysis

Utilityanalysis

Utilityanalysis

Redfootball Business

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Consumer Behaviour & Utility Analysis by CA Shivangi Agrawal for Economics CA CPT & CS Foundation

CONSUMER BEHAVIOR AND UTILITY ANALYSIS CHAPTER: 2, STD.: 12TH, ECONOMICS

Chandni dubey videos - UTILITY ANALYSIS

You want to decide which pair of shoes you want to buy, which restaurent is the best, who is the best offensive player in your team.
You are seachring for a new place for your next factory?

As a simple example you are searching for a place of your new factory.

1. You decide which criteria are important for your decision like advertsing costs, buildung costs, competitor, enigneer students, proximity to railway station, unemployment rate

2. You compare each pair of criteria: for example advertising costs are less important than building costs but more important than the umenployment rate, or competitors are as important as engineer students

3. You define under which conditions a criterion would be bad, average or good satisfied by an option. For example: buildung costs: bad (0-2): > 10000000; average (3-5): 5000000 to 10000000; good (6-8): < 5000000

4. You write down all options and give each option for every criterion points (0-8)

The app will calculate the weight of each criterion and the utility for each option.

You can export the results to an excel- or txt-file.

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