How to evaluate scheduling algorithm?

There are many possible criteria:

• CPU Utilization: Keep CPU utilization as high as possible. (What is utilization, by the way?).
• Throughput: number of processes completed per unit time.
• Turnaround Time: mean time from submission to completion of process.
• Waiting Time: Amount of time spent ready to run but not running.
• Response Time: Time between submission of requests and first response to the request.
• Scheduler Efficiency: The scheduler doesn't perform any useful work, so any time it takes is pure overhead. So, need to make the scheduler very efficient.