Assumed Certainty: Multi-Attribute Decision Making (MADM)
Scenario: You are the Vice
President of Franchise Services for the Lucky restaurant chain. You have been
assigned the task of evaluating the best location for a new Lucky restaurant.
The CFO has provided you with a template that includes 6 criteria (attributes)
that you are required to use in your evaluation of 5 recommended locations.
Following are the 6 criteria that you will use to evaluate this decision:
Traffic counts (avg.
thousands/day)—the more traffic, the more customers, and the greater the
Building lease and taxes (thousands
$ per year)—the lower the building lease and taxes, the better.
Size of building (square feet in
thousands)—a larger building is more preferable.
Parking spaces (max number of
customers parking)—more customer parking is preferable.
Insurance costs (thousands $ per
year)—lower insurance costs are preferable.
Ease of access (subjective
evaluation from observation)—you will need to “code” the subjective data. Use
Excellent = 4, Good = 3, Fair = 2, and Poor = 1.
Now that you have collected the data from various sources (your
CFO and COO, local real estate listings, personal observation, etc.), you have
all the data you need to complete an analysis for choosing the best location.
Download the raw data for the 5 locations in this Word document: BUS520 Module 3 SLP.docx
Review the information and data regarding the different
alternatives for a new restaurant location. Then do the following in Excel:
Table 1: Develop an MADM table with the raw data.
Table 2: Convert the raw data to utilities (scaled on 0 to 1).
Show the utility weights in a second table.
Table 3: Develop a third table with even weights (16.7%) for
Evaluate Table 3 for the best alternative.
Table 4: Complete a sensitivity analysis by assigning weights to
In a Word document, do the following:
- Discuss the process
used to put together Tables 1–4 above.
- Provide the rationale
you used for choosing for each of the weights you used in Table 4.
- Give your
recommendation of which location the company should choose (based on results of
Complete Excel analysis using MADM (all four tables noted above
must be included).
Accurate Excel analysis (Excel file includes working
formulas showing your calculations; all calculations and results must
requirements: 2–3 pages minimum (not including Cover and
Reference pages). NOTE: You must submit 2–3 pages of written
discussion and analysis. This means that you should avoid use of
tables and charts as “space fillers.”
- Provide a brief
introduction to/background of the problem.
- Discuss the steps you
used to compile the Excel analysis (i.e., the four tables).
- Discuss the
assumptions used to assign weights to each variable of your sensitivity
analysis (Table 4). That is, provide the rationale for your choice of weights
for each variable.
- Provide a complete and
meaningful recommendation related to the location that should be chosen as a
- Write clearly, simply,
and logically. Use double-spaced, black Verdana or Times Roman font in 12 pt.
- Have an introduction
at the beginning to introduce the topics and use keywords as headings to
organize the report.
- Avoid redundancy and
general statements such as “All organizations exist to make a
profit.” Make every sentence count.
- Paraphrase the facts
using your own words and ideas, employing quotes sparingly. Quotes, if
absolutely necessary, should rarely exceed five words.
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