Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each
A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows. Activity Activity Time (weeks) Probability 5 0.30 6 0.35 7 0.20 8 0.15 B 3 0.15 5 0.60 7 0.25 10 0.10 12 0.25 14 0.45 16 0.15 18 0.05 D 8 0.65 10 0.35 (a) Construct a spreadsheet simulation model to estimate the average length of the project (in weeks) and the standard deviation of the project length. (Use at least 1,000 trials. Round you answers to one decimal place.) average weeks standard deviation weeks (b) What is the estimated probability that the project will be completed in 35 weeks or less? (Use at least 1,000 trials. Round your answer to three decimal places.) A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows. Activity Activity Time (weeks) Probability 5 0.30 6 0.35 7 0.20 8 0.15 B 3 0.15 5 0.60 7 0.25 10 0.10 12 0.25 14 0.45 16 0.15 18 0.05 D 8 0.65 10 0.35 (a) Construct a spreadsheet simulation model to estimate the average length of the project (in weeks) and the standard deviation of the project length. (Use at least 1,000 trials. Round you answers to one decimal place.) average weeks standard deviation weeks (b) What is the estimated probability that the project will be completed in 35 weeks or less? (Use at least 1,000 trials. Round your answer to three decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started