Answer the following questions.

1. Andrew hopes that it takes just 14 hours to prepare for an important presentation for prospective clients. It will probably take 16 however, and if some key things go wrong, it will take 24 hours. a) How many hours should be scheduled for the meeting preparations using the PERT formula? b) How many hours should be scheduled for the meeting preparations using the three-point estimate? c) Explain why there is a difference between the PERT formula and the 3 Point estimate.

2. Tim has an important update that needs to be installed on his system. He hopes he can get it installed in 4 minutes, but he knows it will likely take 20 minutes. Depending on the time of day, it could easily take up to 45 minutes. a) How many minutes should he plan on waiting for the installation using the PERT formula? b) How many minutes should he plan on waiting for the installation using the three-point estimate?

3. Whitney has been tasked on creating web page template for a new application. She hopes to have the home page template ready in 30 hours. She usually has had other templates ready in 32 days, but it has taken her 37 days at other times. a) How many days should be scheduled to complete the web page template using the PERT formula? b) How many days should be scheduled to complete the web page template using the three-point estimate?

4. Karl estimated that a certain report will take 10 days to write. His optimistic guess was 7 days and his pessimistic guess was 13 days. a) What was his guess for the time it would most likely take to write the report using the PERT formula? b) What was his guess for the time it would most likely take to write the report using the three-point estimate?

5. Using the PERT formula, Alex estimates that it will take her 6 hours to finish the document containing the project specifications needed by her team. Her optimistic guess was 3 hours and her most likely guess was 5 hours. a) What was her pessimistic guess? b) What would be the three-point estimate?