Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As a project manager, you must select one of four possible designs for a phone that your firm is creating. The first two designs D1

  1. As a project manager, you must select one of four possible designs for a phone that your firm is creating. The first two designs D1 and D2 are similar to previously used designs, and you believe will have values that are normally distributed with mean 80 and standard deviation 5.

The third and fourth designs D3 and D4 are both novel and you believe they will both have value that is normally distributed with mean 70 and standard deviation 30.

  1. If you were allowed to test only one design, which design will you test? What is the expected value (not counting the costs) of your design? D1
  2. If you were allowed to test only two designs in parallel, with the goal of finally choosing one of these tested designs as the final one, which two designs will you test? What is the expected value (not counting the costs) of your chosen set?
  3. If you were allowed to test only three designs in parallel, with the goal of finally choosing one of these tested designs as the final one, which three designs will you test? What is the expected value (not counting the costs) of your chosen set?
  4. Explain the intuition behind your chosen design set [Specifically, are all the tested designs high risk, or are all of them lower risk. And what is the intuitive purpose of each of the designs you choose to test]

Use the simulation hosted at https://sanjiverat.com/ptesting to answer the above questions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Management A Strategic Managerial Approach

Authors: Jack R. Meredith, Scott M. Shafer, Samuel J. Mantel Jr.

11th Edition

1119803837, 978-1119803836

More Books

Students also viewed these General Management questions

Question

Was ignoring the problem an option? Why?

Answered: 1 week ago