3. Calculate the total cost of the project, to do this consider the following actions: a. Using the historical cost, calculate the project activity cost using linear regression analysis for the year 2011. What is the Total Project cost? b. Using weighted average (PERT) per activity, What is the cost per each activity? Calculate the project total cost? c. Calculate the standard deviation for each activity. d. For high-risk activities, add the standard deviation to the cost of the activity. e. For activities within the critical path, also add the standard deviation. If the critical path activity is also high risk, only add the standard deviation only once. 4. What is the probability that the project will cost $12,000?Table 1: Project Activities Cost from Sponsor and Team Duration Cost given by the Historical cost (See Immediate Exact month where the Cost given Activity Predecessor Activity will be executed (days) sponsor page 2) Calculate for Risk by the team the year 2011 1 $ 1,000.00 $ 1,200.00 10 $ 1,800.00 $ 2,000.00 A NN W 15 $ 1,100.00 $ 1,500.00 A 15 200.00 250.00 C 3 12 500.00 $ 760.00 C , D 3 14 1,200.00 $ 1,900.00 B 4 15 1,600.00 $ 2,300.00 H E , F 670.00 $ 890.00 G , H 820.00 $ 1,100.00 1,234.00 $ 1,300.00 High Risk Medium Risk Low Risk You have conducted your own cost analysis using analogous cost estimation using information from a similar past project in order to estimate the cost and duration of the project. Table 2 summaries your finding for each activities from 2001 to 2010. Table 2: Historical information from similar project from 2001 to 2010 Activity YEAR 2001 YEAR 2002 YEAR 2003 YEAR 2004 YEAR 2005 YEAR 2006 YEAR 2007 YEAR 2008 YEAR 2009 YEAR 2010 A $ 800.00 $ 820.00 $ 840.00 $ 860.00 $ 880.00 $ 900.00 $ 920.00 $ 940.00 $ 1,000.00 $1,200.00 B S 930.00 $ 950.00 $ 970.00 $ 990.00 $1,010.00 $1,030.00 $1,050.00 |$1,070.00 $ 2,000.00 $2,300.00 S 840.00 $ 860.00 $ 880.00 $ 900.00 $ 920.00 $ 940.00 $ 960.00 $1,100.00 $ 1,200.00 $1,500.00 30.00 $ 45.00 $ 60.00 $ 75.00 $ 90.00 $ 105.00 $ 120.00 $ 135.00 $ 200.00 $ 230.00 75.00 $ 100.00 $ 125.00 $ 150.00 $ 175.00 $ 200.00 $ 225.00 $ 250.00 $ 550.00 $ 600.00 S 245.00 $ 367.00 $ 489.00 $ 611.00 $ 733.00 $ 855.00 $ 977.00 $ 1,099.00 $ 1,200.00 $1,300.00 G 457.00 $ 556.00 $ 655.00 ,150.00 $ 1,249.00 $2,257.00 H $ 124.00 $ 189.00 $ Page 3194 00 449.00 514.0q S 579.00 $ 670.00 $ 734.00 90.00 $ 176.00 $ 348.00 34.00 520.00 606.00 S 692.00 $ 820.00 $ 860.00 S 756.00 $ 790.00 $ 824.00 $ 858.00 5 892.00 5 926.00 $ 960.00 5 994.00 $ 1,234.00 $1,300.00