"To cut the number of projects, the steering committee used a weighting scheme that reflected the airline's priorities, which were: fly safe, generate revenue, reduce costs, and customer service. The weighting scheme easily weeded out the fluff." Use a weighted scoring model to help the committee choose between two projects: Booking System Upgrade and Cabin Crew Retraining. The relative weights for each criterion and the assessment of each project for these criteria are shown in the following table. Which project would you choose and why? (14 marks) Criteria Fly safe Generate revenue Reduce costs Customer service Weight 40 30 20 10 Booking System Upgrade Pilot Crew Retraining 4 9 7 10 10 9 8 10 Criteria Booking System Weight Score Weighted Score Pilot Retraining Score Weighted Score 2.2. Briefly present to the senior management the limitations of using the weighted scoring model (weighting scheme). 2.3. Due to the limitations of the weighted scoring model (weighting scheme), briefly discuss how Coady can use the following financial models for project selection. 1. Net Present Value 2. Payback Analysis