A company must decide where to locate its new toy store among five neighborhoods in the city. The company has selected five relevant factors and given a weight between 1 and 4 to them. The following table shows these factors and the evaluation that managers have made for each factor and place (the evaluation scale is 0-100). Based on the data provided in the following table,which is the best place to locate the new store? Solve the problem by hand and then using Excel.
|Localization factors||Weight||Neighborhood 1||Neighborhood 2||Neighborhood 3||Neighborhood 4||Neighborhood 5|
|Access to suppliers||1||50||45||56||66||90|
|Approximate number of children||3||10||60||40||60||50|
|Competition with other stores||2||90||50||85||75||70|