Hoping for some help with this. I need to calculate the the ranking for a number (eighty or so) groups, based on a number of component scores. Each component score is weighed. For example:
Component 1: 10% of score
Component 2: 20% of score
Component 3: 5% of score
Component 4: 7.5% of score
Think like- Component 1 is "Average Wait Time" and Component 2 is "Customer Satisfaction Rating" etc. That sort of thing.
Each component score is found using z-scores- because the components aren't a standard measure, z-scores standardize the measurement so you can compare performance weighing the different components.
Total score is found by adding up all your Component z-scores, and then scaling them so the top score gets 100, and the rest get their percent of top score.
Here's my problem. Obviously z-scores can be negative. This makes it very difficult to explain "ok so this component your score is -4.35, for this one your component score is -2.11" etc etc. I need a way to convert the z-scores into all positive values while maintaining their function. Any ideas? Would really appreciate any help, I'm not the lunatic who came up with this, just the poor bastard who has to figure it out…
Best Answer
IQ Scores are formulated using 100 + 15 * Z-Score
This results in a nice clean number thats easy to explain because an 80 is 'barely qualifies for elementary school' and a 120 is 'genius'
You'll still have to explain to the managers, however, why there's so little variation between good and bad scores, or why someone doesn't get a 0 for 0 contribution.