PART I. APPLICATION & ANALYSIS. FLOW ANALYSIS OF CYCLE TIME. (15 Marks) Direction: Analyze the following process model. Given the parts, and assigned variables and values to activities and paths, answer the following questions. Online Shop Customer 2 day Decline2 p1=25% Offer 4 days Receive Offer Receiv p2-75% Accept Send T4 Invoice Offer Payment +00 Receive 1.5 day 3 days Goods 4 days Receivers Receive Send Dispatch p3-45% Confirmation Payment Invoice Goods 1.5 days Receive6 3 days 2 days 2 days Send T1 Offer 1 day p4-55% Decline 2 day Question/Requirement: Calculate for the Average Cycle Time (CT). Question/Requirement: Calculate for the Average Cycle Time (CT). Instruction: To perform the operations to calculate for the Average Cycle Time of the given process model, the steps to follow are: 1. Identify the pattern/path of each highlighted part of the process model. Start from where the trigger is. (0.5 mark each part = 1.5 marks) 2. 3. Determine the equation of each pattern. (1 mark each = 3 marks) Formulate the equation for each pattern according to the labels/variables assigned. (1 mark for each derived equation = 3 marks) 4. Substitute the values assigned to each variable in each derived equation. (1 mark for each equation = 3 marks) 5. Calculate for each Average Cycle Time (CT) in the derived equation. (1 mark for each calculated equation = 3 marks) 6. Calculate for the overall Average Cycle Time (CT). (1.5 marks)