Risky Multi-Attribute Decision-Making Method Based on the Interval Number of Normal Distribution

Abstract

Focusing on risky decision-making problems taking the interval number of normal distribution as the information environment, this paper proposes a decision-making method based on the interval number of normal distribution. Firstly, the normalized matrix based on the decision maker’s attitude is obtained through analysis and calculation. Secondly, according to the existing properties of standard normal distribution, the risk preference factors of the decision makers are considered to confirm the possibility degree of each scheme. The possibility degree is then used for establishing a possibility degree matrix and, consequently, sequencing of all schemes is conducted according to existing theories of possibility degree meaning and the value size of possibility degree. Finally, the feasibility and validity of this method is verified through calculation example analysis.

Keywords

• normal distribution
• interval number
• risky decision-making
• multi-attribute decision-making
• possibility degree