For the planning of the project, the following has been done: A list of activities has been made, and for each activity optimistic, pessimistic, and most likely time estimates have been collected. Based on these estimates, an average expected activity time and a variance for that time have been computed. A sketch has been made to show the order and dependencies of the activities in this project. The total cost of the project is estimated between $130,000 and $137,000.
This is the data: (all times in days).

a) Compute the probability that this project is finished within the 24 days deadline.
b) It is possible to speed up activity B: finishing it within 12 days would bring an extra cost of $4,000. It is also possible to speed up activity E, finishing this in 3 days would bring an extra cost of $2,000. Based on this information, give motivated advice on speeding up the project.
 

estimated Time 12 18 [] 8 6 5 3 15 Activity A B CDEFG A variance B C E time 16 18 4 2.25 1.8 1 8 G (F D