PART I. APPLICATION & ANALYSIS. FLOW ANALYSIS OF CYCLE TIME. (15 Marks) Direction: Analyze the following process model. Given the parts, and assigned variables and values to activities and paths, answer the following questions. Customer Online Shop p1-25% Offer p2-75% 2 day Declin2 Send T Offer 1 day p4-55% Accept Offer 1.5 day Receivers p3-45% Confirmation 1.5 days X Receive Decline 2 day Send T4 Payment 3 days Receive Payment 3 days Receive Offer -C+ Send T Invoice 2 days 4 days Rece Invoice Receive Goods 4 days Dispatch Goods 2 days + Question/Requirement: Calculate for the Average Cycle Time (CT). DO Question/Requirement: Calculate for the Average Cycle Time (CT). Instruction: To perform the operations to calculate for the Average Cycle Time of the given process model, the steps to follow are: 1. Identify the pattern/path of each highlighted part of the process model. Start from where the trigger is. (0.5 mark each part = 1.5 marks) 2. Determine the equation of each pattern. (1 mark each = 3 marks) 3. Formulate the equation for each pattern according to the labels/variables assigned. (1 mark for each derived equation = 3 marks) 4. Substitute the values assigned to each variable in each derived equation. (1 mark for each equation = 3 marks) 5. Calculate for each Average Cycle Time (CT) in the derived equation. (1 mark for each calculated equation = 3 marks) 6. Calculate for the overall Average Cycle Time (CT). (1.5 marks)