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Weighted sum model. In decision theory, the weighted sum model (WSM), [1][2] also called weighted linear combination (WLC) [3] or simple additive weighting (SAW), [4] is the best known and simplest multi-criteria decision analysis (MCDA) / multi-criteria decision making method for evaluating a number of alternatives in terms of a number of ...
In this example a company should prefer product B's risk and payoffs under realistic risk preference coefficients. Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine).
The Jaccard index, also known as the Jaccard similarity coefficient, is a statistic used for gauging the similarity and diversity of sample sets. It is defined in general taking the ratio of two sizes (areas or volumes), the intersection size divided by the union size, also called intersection over union ( IoU ).
The SOFA scoring system is useful in predicting the clinical outcomes of critically ill patients. [8] According to an observational study at an Intensive Care Unit (ICU) in Belgium, the mortality rate is at least 50% when the score is increased, regardless of initial score, in the first 96 hours of admission, 27% to 35% if the score remains unchanged, and less than 27% if the score is reduced. [9]
TOPSIS. The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method, which was originally developed by Ching-Lai Hwang and Yoon in 1981 [1] with further developments by Yoon in 1987, [2] and Hwang, Lai and Liu in 1993. [3] TOPSIS is based on the concept that the chosen alternative ...
Decision matrix. A decision matrix is a list of values in rows and columns that allows an analyst to systematically identify, analyze, and rate the performance of relationships between sets of values and information. Elements of a decision matrix show decisions based on certain decision criteria. The matrix is useful for looking at large masses ...
The Model for End-Stage Liver Disease, or MELD, is a scoring system for assessing the severity of chronic liver disease.It was initially developed to predict mortality within three months of surgery in patients who had undergone a transjugular intrahepatic portosystemic shunt (TIPS) procedure, [1] and was subsequently found to be useful in determining prognosis and prioritizing for receipt of ...
A price index aggregates various combinations of base period prices ( ), later period prices ( ), base period quantities ( ), and later period quantities ( ). Price index numbers are usually defined either in terms of (actual or hypothetical) expenditures (expenditure = price * quantity) or as different weighted averages of price relatives ...