There are many situations in which there is a need to know not only the winner of the election, but also how the other candidates ranked. Each of the methods we have studied can be extended to produce a winner and rank the other candidates for second place, third place, etc.
The following table contains preferences of faculty members for students being considered for scholarships. The first-place candidate will receive a $5000 scholarship while second-, third-, and fourth-place candidates will receive $4000, $3000, and $2000, respectively. Rank the candidates in order according to their Borda count totals and determine which candidate receives which scholarship.
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