Assignment:
An electronic company is deciding on which of the two new products should be put in production. It has identified three factors it considers most important and has decided to use Factor Rating to evaluate the two products based on a five-point scale, with 1 being poor and 5 excellent. The weights assigned to each factor are shown below in the table, as well as the factor score. What's the score for product 1?
|
Factor
|
Factor Weight
|
Product 1 Factor Score
|
Product 2 Factor Score
|
|
Cost
|
27
|
5
|
7
|
|
Price
|
48
|
2
|
4
|
|
Demand
|
25
|
7
|
8
|
Provide complete and step by step solution for the question and show calculations and use formulas.