What are some examples of weighted scoring?

What are some examples of weighted scoring?

Weighted scoring is a method used to evaluate options based on multiple criteria, assigning different weights to each criterion. For example, in product selection, you might weigh cost at 50%, quality at 30%, and features at 20%.

Can you give me a specific example of how to apply weighted scoring?

Sure! Let's say you're choosing a new software tool. You could list criteria like cost, user-friendliness, and customer support. Assign weights: Cost (40%), User-friendliness (40%), Customer Support (20%). Then score each tool on a scale of 1-10 and calculate the weighted score.

How do I calculate the weighted score?

To calculate the weighted score, multiply each score by its weight and then sum those values. For example, if Tool A scores 8 for cost, 7 for user-friendliness, and 9 for customer support, the calculation would be: (80.4) + (70.4) + (9*0.2) = 3.2 + 2.8 + 1.8 = 7.8.

What are the benefits of using weighted scoring?

Weighted scoring helps prioritize options based on what's most important to you, reduces bias, and provides a clear framework for decision-making.