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In this paper, a new fuzzy multiple attribute decision making approach, which is based on fuzzy variable and entropy weight, is proposed to deal with the problem of ranking and selection of alternatives. The proposed method can take both crisp and fuzzy inputs. Since there is much fuzzy information in the process of evaluation on investment in higher education, the approach is applied to evaluate investment in higher education. The case demonstrates the efficiency and practicability of the approach for solving fuzzy multiple attribute decision making problem. The proposed method is a generalized model, which can be applied to great variety of practical problems which contain a mixture of fuzzy and crisp data.