A Weighted Product Model is a mathematical model used in decision-making and optimization analysis. It is a type of multi-criteria decision analysis (MCDA) that involves evaluating alternatives based on multiple criteria or factors.
In a Weighted Product Model, each criterion is assigned a weight or importance factor based on its relative importance to the decision-making process. These weights are then used to calculate a weighted score for each alternative, which represents its overall desirability or suitability based on the different criteria. The alternative with the highest weighted score is considered the optimal choice.
The Weighted Product Model can be applied to various decision-making situations, such as product design, supplier selection, and resource allocation. It allows decision-makers to objectively compare and evaluate alternatives based on multiple criteria, and can help to identify the most suitable options for a given situation.