Using a Scoring Model, Evaluate the Following Retirement Options

Essay

Using a scoring model, evaluate the following retirement options. Joe Greyhair is deciding between three cities to spend his golden (maybe silver) years in retirement. The factors used by Joe are cost of living, availability of medical care, physical security, and quality of life. He would like to rate them on a 5-point scale, with 5 as most important to 1 as least important. His expected level of satisfaction for any criterion/ city combination is to be rated on a 9-point scale, 9 being extremely favorable to 1 being extremely unfavorable. (Note that high and low may not convey the right meaning: for example cost of living being high will result in a high score, since the other factors like physical security being high may be desirable, resulting in addition of wrong types of scores. Note also that desirability in each scale goes as a higher number.) The scores for the factors under consideration are given in Table 13, and the scores obtained by the three cities under consideration, namely, Toledo, Ohio, New Greyland, Mexico, and Madras, India, are given below in Table 14. The weighted score for each city is given in Table 15.