60.1K

Verified Solution

Link Copied!

1. Consider the following weights being used to make a decision on which airline to travel with: Factors Weight Sandpiper Two out of Basket Airways Three Ticket Price 0.35 5 1 3 Flight Schedule 0.3 1 3 Number of 0.2 3 5 Connecting Flights On-time flight probability 0.15 3 5 5 Perform a sensitivity analysis on the weights used to make this decision for the following two factors, varying them by +/- 0.1. For each of the factors considered, describe how varying the weight of that factor up or down affects the overall decision. Show the equations you are using to find the adjusted weights and outcomes and give a summary table showing all outcomes from the sensitivity analysis. a. Flight Schedule 1 3 b. On-time flight probability 1. Consider the following weights being used to make a decision on which airline to travel with: Factors Weight Sandpiper Two out of Basket Airways Three Ticket Price 0.35 5 1 3 Flight Schedule 0.3 1 3 Number of 0.2 3 5 Connecting Flights On-time flight probability 0.15 3 5 5 Perform a sensitivity analysis on the weights used to make this decision for the following two factors, varying them by +/- 0.1. For each of the factors considered, describe how varying the weight of that factor up or down affects the overall decision. Show the equations you are using to find the adjusted weights and outcomes and give a summary table showing all outcomes from the sensitivity analysis. a. Flight Schedule 1 3 b. On-time flight probability

Answer & Explanation Solved by verified expert

See Answer