Consider Problem 16.12 (see Chapter 16 on the CDROM), which involves estimating both the duration of a

Question:

Consider Problem 16.12 (see Chapter 16 on the CDROM), which involves estimating both the duration of a project and the probability that it will be completed by the deadline. Assume now that the duration of each activity has a triangular that is based on the three estimates shown in Problem 16.12. Use RSPE to perform 1,000 trials of a computer simulation of the project on a spreadsheet.
a. What is the mean project completion time?
b. What is the probability that the project can be completed within 22 months?
c. Generate a sensitivity chart. Based on this chart, which two activities have the largest impact on the project completion time?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...