Question
Question 3 (45 points). For the same problem in Question 2, imagine you also care about quality and price besides wait time. Related data are
Question 3 (45 points). For the same problem in Question 2, imagine you also care about quality and price besides wait time. Related data are given for each restaurant below:
low wait time(min) | high wait time (min) | quality (1poor-5excellent) | average price($) | |
R1 | 10 | 20 | 3 | 15 |
R2 | 15 | 30 | 5 | 25 |
R3 | 5 | 15 | 4 | 20 |
a) (10 points) Draw a fundamentals-objectives hierarchy and a means objectives network on the same graph b) (10 points) Conduct AHP to identify the weights for the criteria (Assume quality is very strongly more important compared to wait time and price is moderately more important compared to wait time). Interpret results. c) (10 points) Draw the multi-objective decision tree problem. d) (10 points) Use the criteria weights from part (b) to solve the multi-objective decision tree problem. Interpret results.
e) (BONUS - 5 points) Create cumulative risk profiles for each strategy for the multi- objective problem. Interpret results.
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