4.++Identify+and+rank+criteria

= 4. Identify and rank criteria =

1. Press edit above 2. Move your cursor below your name (scroll down) - only work in the area under your name 3. Use Ms Stevenson's exemplar as an example

**Miss Stevenson's exemplar:** My economic problem: Grandma has $1000 to spend on a pedigree dog to provide companionship, exercise and security
 * || ** Name ** || ** Weight ** || ** Reasons for ranking ** ||
 * ** Highest Rank Criterion ** || Companionship || 5 || ﻿﻿Companionship is the most important criteria as Grandma lives by herself. The primary reason for getting a dog is to have an animal in the house. ||
 * ** Medium Rank Criterion ** || Security || 4 || Security is important as she is going deaf and needs to be alerted if anyone is around ||
 * ** Medium Rank Criterion ** || Exercise || 3 || Grandma is fit and healthy and would like to remain that way. However, she only likes to walk for 30 minutes a day. (Note that in this case Grandma considers security and exercise as similar in terms of ranking. ||
 * ** Medium Rank Criterion ** || Shedding || 2 || Grandma does not want a dog that sheds hair. Although she does have a cleaner so this is not a highly ranked criteria ||
 * ** Lowest Rank Criterion ** || Ongoing costs || 1 || Grandma is on a pension, and needs to consider ongoing costs associated with the dog. This is a lower ranked criterion as her children have volunteered to pay for any costs ||

Note you should pick solutions of a similar cost. Note that the weighting of criteria will be different for different people


 * David A**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Convenience || 3 || It is the main reason that the student is buying a card at all ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** || Access to Borrowing money || 2 || Borrowing money will be important for a young person ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** || Secuirty || 1 || Important but as all security factors are the same it is rendered unimportant. ||


 * Malcolm B**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Price || 5 || As the purchaser is a teenager the price of the phone has to be low. ||
 * **Medium Rank Criterion** || Memory || 4 || The phone needs to be able to store contacts, music and videos. ||
 * **Medium Rank Criterion** || Battery Life || 3 || The phone needs to be able to last a long time. ||
 * Medium Rank Criterion || Display Size || 2 || The display needs to be of a decent size to see what you are doing on the phone ||
 * **Lowest Rank Criterion** || Camera || 1 || Not essential but taking photos are still important. ||


 * Samuel B**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost || 3 || Money is the quintessential factor in this exchange. ||
 * **Medium Rank Criterion** || Efficiency || 2 || What needs and wants are satisfied for the cost (what he gets for his money) ||
 * **Lowest Rank Criterion** || Personal Preference || 1 || What highly valued($) personal preferences (wants) are satisfied. ||
 * **Lowest Rank Criterion** || Personal Preference || 1 || What highly valued($) personal preferences (wants) are satisfied. ||
 * **Lowest Rank Criterion** || Personal Preference || 1 || What highly valued($) personal preferences (wants) are satisfied. ||


 * Nathan C**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Interest Payments || 3 || The interest rate should be low and stay around the fixed rate ||
 * **Medium Rank Criterion** || Annual Costs || 2 || The young family does not want to be making constant payments and just wants to pay per annum ||
 * **Medium Rank Criterion** || Credit Limit || 1 || The young family doesnt want to take out a larger morgage then they need to ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Solomon C**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Jacky C**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Performance(Specifications-Versatility || 5 || With limited budget, it is neccessary to choose the best option (operate safely) that would be most suitable for the owner's wants-fishing, cruising and skiing. ||
 * **Medium Rank Criterion** || Price-Outright cost & Complementary Costs || 4 || Value for money. As a young adult, on most occasions, money would be a important factor, considering the person's other needs/wants i.e. car, accomodation, savings etc. ||
 * **Medium Rank Criterion** || Efficiency || 3 || With the ever increasing petrol prices, the boat's motor efficiency/fuel economy and towing capacity must be taken in consideraion ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Jack C**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost || 3 || As a university student he wouldn't have much money to spend. ||
 * **Medium Rank Criterion** || Distance from university || 2 || The distance is an important aspect but not as important as the cost. ||
 * **Lowest Rank Criterion** || Facilities || 1 || The facilities at the apartment are quite important but no nearly as important as the distance from uni or the cost. ||
 * **Lowest Rank Criterion** || Facilities || 1 || The facilities at the apartment are quite important but no nearly as important as the distance from uni or the cost. ||


 * Tom F**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Matt G**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Money || 5 || Family only has a certain amount of money that could be well used on other important items for living, so the more that can be saved the better. ||
 * **Medium Rank Criterion** || Space || 4 || Space is necessary for an expanding family, for you don't want to have to go buy a new house if you were to add another member to your family so extra bedrooms and bathrooms are important. ||
 * **Medium Rank Criterion** || Neighbourhood || 3 || A good neighbourhood is vital to the upbringing of children, so you don't have to worry about the constant threat of being robbed etc. Child safety is important. ||
 * **Medium Rank Criterion** || Distance from local Shops || 2 || Proximity to local shops is fairly important for we need food to survive and access to living supplies is also very important. living close is convenient also for you dont have to go for a long drive to hire a DVD etc. ||
 * **Lowest Rank Criterion** || Distance from local school || 1 || Its fairly important to live close to a school but its not necessarily important for they might not even be attending the school of which is closest to them. ||


 * Matthew H**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost || 5 || As a university student, he is in a limited financial situation. So other wants can be satisfied, saving money here is one of the most important aspects of the housing. The long-term benefit of buying or renting is also taken into account. ||
 * **Medium Rank Criterion** || Distance from University || 4 || The stakeholder buying the house is a university student, so obviously another important aspect that he must take into account is the distance to university that the housing is. The closer to university, the better he can perform during his tertiary education. ||
 * **Medium Rank Criterion** || Facilities || 3 || As well as the bare necessities that should be met with the housing, the luxury facilities that are offered also impact the choice. Whether it has the capacity to enhance study and the living experience during the students tenancy, these are important for the choice of housing. ||
 * **Medium Rank Criterion** || Neighbourhood || 2 || One of the less important, but still integral aspects of this decision is the neighbourhood in which the housing finds itself. The socio-economic stability of the area, as well as the local demographics and public transport make up this aspect of housing. ||
 * **Lowest Rank Criterion** || Work Environment || 1 || Because the tenancy is due to tertiary education, the working environment that the housing accommodation has is another aspect that will impact the decision. Whether or not work can be completed is important for the success of the entire arrangement. ||


 * Dugie H**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Returns Gained || 3 || The company that provies the highest amount of money earned as a result of the money deposited over time would determine the highest returns gained, thus being the most important criteria. ||
 * **Medium Rank Criterion** || Fees Charged || 2 || The lower the Super Fee, the more money you are able to spend on wants making it the medium rank criteria. ||
 * **Lowest Rank Criterion** || Extra Benefits & Services || 1 || Does the Super Fund offer extra benefits and services eg 24 Hour Assistance or Accessing account details from the company website. However these are not entirely necessary, making it the lowest rank criteria. ||


 * Abhay K**


 * =  ||= ** Name ** ||= ** Weight ** ||= ** Reasons for Ranking ** ||
 * = **Highest Rank Criterion** ||= **__ Annual Free __** ||= 1 ||= For a person in there 20s they will not wish to be spending to much money every year on annual fees ||
 * = **Medium Rank Criterion** ||= **__ Minimum Credit Limit __** ||= 2 ||= A person in there 20s will not want to over spend then that will cause them to pay higher intreset rates ||
 * = Medium **Rank Criterion** ||= **__ Intere﻿st Free __** ||= 3 ||= I can pay back on time and intreset is not an issue ||
 * = **Lowest Rank Criterion** ||= **__ Intere﻿st Rate on Pruchase __** ||= 4 ||= Somone in there 20s wouldnt want lose money due to paying money on the intreset ||


 * Joshua K**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Outright Cost || 5 || University students are generally on a tight budget, and therefore the more money they could save the better. ||
 * **Medium Rank Criterion** || Safety || 4 || P-Platers are regarded as the least experienced drivers on the roads and therefore safety is a crucial factor to the protection of the driver and/his passengers ||
 * **Medium Rank Criterion** || Ongoing Cost || 3 || e.i. fuel. Supporting the first statement however, ongoing cost are only a fraction of cost compared to the outright cost. ||
 * **Medium Rank Criterion** || Power || 2 || The cars primary role is to transport the student to university via a highway, and thus power is vital to travelling at high speeds ||
 * **Lowest Rank Criterion** || Practicality || 1 || Practically is important for times where he may need to drive his mates around or even a project. ||


 * Shaun L**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost || 4 || Because students are generally not able to afford a high end house, apartment or townhouse. ||
 * **Medium Rank Criterion** || Distance from University || 3 || This is important as it will help reduce costs of living, leaving more money for the student to save ||
 * **Medium Rank Criterion** || Facilities || 2 || This is pretty important because its important to be comfortable for a stable learning and studying environment ||
 * **Lowest Rank Criterion** || Neighborhood || 1 || This is not really important that much its just helpful to live with the community ||


 * Luke M**

get his car back on the road || as possible || their reliability ||
 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost || 5 || For a young driver, cost is of most importance, as most money has already been spent ||
 * **Medium Rank Criterion** || Speed of claim assessment || 4 || The speed of which a claim can be assessed and approved, the faster the driver can
 * **Medium Rank Criterion** || Speed of repair || 3 || The repair speed is also important, as the young driver would want his car back as fast
 * **Medium Rank Criterion** || Reputation || 2 || The reputation of an insurer helps a decision be made, and also provides insight into
 * **Lowest Rank Criterion** || No claim bonus || 1 || Any bonuses given or prices reduced is also an advantage to a young driver ||


 * Nick M**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Intial cost - Intial cost is weighted the highest becuase the buget for the amount of money that can be spent on the car is low. || initia ||  ||
 * **Medium Rank Criterion** || ongoing cost- The ongoing cost has to be affordable if the car costs to much to run. The car will have to be sold due to afforadble exspences. ||  ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** || Resale value of car- Not an importance becuase the are no plans to sell the car. ||  ||   ||


 * Robert N**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Genre of games || 4 || Because teenagers like a specific type of games. ||
 * **Medium Rank Criterion** || Online Experience || 3 || The online part of the game console must be suitable for teenagers. ||
 * **Medium Rank Criterion** || Cost || 2 || The price of the console must be reasonable to what you get out of it. ||
 * **Medium Rank Criterion** ||  ||   ||   ||
 * **Lowest Rank Criterion** || Size of Console || 1 || The size of a console is not too important since they are already considerably small. ||


 * Rory O**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || happiness || 5 || As he has just left school he is eager to have fun and so its a high priority for him ||
 * **Medium Rank Criterion** || freedom || 4 || As he has just left school he is eager to test his limits and see how he can survive by himself ||
 * **Medium Rank Criterion** || cost || 3 || it is not too highly ranked as his parents are paying for it so he is not too fussed ||
 * **Medium Rank Criterion** || work ethics || 2 || Not highly ranked but not at the bottom as he wants to succeed at uni and he knows he will not go very well if there are no rules. ||
 * **Lowest Rank Criterion** || Security || 1 || Not a big deal for him, as he is a big strong guy. ||


 * Ryan P**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || 5 || Cost || Being a first home buyer, cost is very important as they have a limited amount of money ||
 * **Medium Rank Criterion** || 4 || Location || Having a kid means it needs to be close to schools, shops and transportation. ||
 * **Medium Rank Criterion** || 3 || Size || Incase of another baby they need a spare room so they can avoid having to buy another home. ||
 * **Medium Rank Criterion** || 2 || Space || Having a backyard, garden and space to do other things. ||
 * **Lowest Rank Criterion** || 1 || Having a pool || If they want to swim in the summer they can consider getting a pool ||


 * Dylan P**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** ||  ||   ||   ||
 * **Medium Rank Criterion** || Stock Price ||  || Is it worth buying ||
 * **Medium Rank Criterion** || Chart ||  || chart can determind the right time to buy the stock ||
 * **Medium Rank Criterion** || dividen ||  || the dividen of a stock directy give the investor money ||
 * **Lowest Rank Criterion** || P/E Ratio ||  || it determinds the amount of time earning back the cost ||
 * Bassell T**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Cost per month || 4 || University students are generally on a tight budget, and therefore saving money could benefit in many ways such as paying for his education, fuel and many other goods and services. ||
 * **Medium Rank Criterion** || Call cost || 3 || This student makes around 5 to 6 calls a day so the cost per call is very important ||
 * **Medium Rank Criterion** || Future benefits || 2 || Would it be better to buy an exspenive phone with cheap call cost or a cheap phone with exspenisve call cost. ||
 * **Medium Rank Criterion** || Extras || 1 || Any bonuses given or prices reduced is also a great advantage for this University student. ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Nick T**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Security/risk || 5 || Needs secure share so he doesn't blow his money. ||
 * **Medium Rank Criterion** || Potential for capital growth || 4 || My uncle wants good growth over time so he can retire in about 10 years. ||
 * **Medium Rank Criterion** || Income || 3 || Uncle wants a solid return. ||
 * **Medium Rank Criterion** || Nature of business of company || 2 || Some consider the nature of the business of company very important in the purchasing of shares. ||
 * **Lowest Rank Criterion** || Trading history || 1 || To give an idea as to how the share will go in the future. ||


 * Thomas W**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Overall speed (CPU, Motherboard ect) || 5 || needs to be fast enough to run application and games on medium graphics ||
 * **Medium Rank Criterion** || Price || 4 || The more costly it is ||
 * **Medium Rank Criterion** || General Graphics (GPU, screen resolution) || 3 || want good GFX for media and games ||
 * **Medium Rank Criterion** || Size || 3 || must still be portable but a larger screen would be better ||
 * **Lowest Rank Criterion** || Weight || 1 || dont mind carrying a few extra kilograms ||


 * Richard W**


 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Dividen || 5 || the dividen of a stock directy give the investor money ||
 * **Medium Rank Criterion** || P/E Ratio || 4 || it determinds the amount of time earning back the cost ||
 * **Medium Rank Criterion** || Chart || 3 || chart can determind the right time to buy the stock ||
 * **Medium Rank Criterion** ||  || 2 ||   ||
 * **Lowest Rank Criterion** ||  ||   ||   ||


 * Josh Y**
 * || **Name** || **Weight** || **Reasons for Ranking** ||
 * **Highest Rank Criterion** || Future benefits || 5 || Buying a house, can benefit the student financially and socially (family) ||
 * **Medium Rank Criterion** || Cost || 3 || Cost will impinge on the decision ||
 * **Medium Rank Criterion** || renting for an extended period || 4 || If renting to long, he would have lost more than buying a house straight of ||
 * **Medium Rank Criterion** || Tax || 2 || Tax can effect the process of purchasing real estate ||
 * **Lowest Rank Criterion** ||  ||   ||   ||