1. Midway through a project planned for 42 periods the probability that the budget would be met was calculated as 0.95 while the probability that the due date would be met was forecasted to be 0.89. Assuming independence between the events of meeting budget and meeting schedule what is the probability that the schedule will not be met but the budget will be met? (don't round)
2. A project of 45 activities was analyzed using the PERT method and scheduled using the most likely time. Using the most likely time the duration of the critical path of 7 activities was calculated to be 114 periods. Using the PERT results the same activities were identified as the critical path and the expected mean time was 110.5 periods. The sum of variances along the path was 5.5. What is the probability the project will be completed by the most likely time? (round to 2 decimals)