QUESTION 1 ABCDEFGHIIKUM Activity Activity Description Excavate the area Lay the foundation Immediate Predecessors Estimated Duration (in weeks) ---- Erect the rough wall Put up the roof Install the exterior plumbing Install the interior plumbing Put up the exterior siding Paint the exterior Do the electrical work Erect the wallboard ABCCED E, G C F, I 8 Install the flooring J L Paint the interior J M Install the exterior fixtures H N Install the interior fixtures K, L 2 10 4964572764526 a. Calculate the earliest start, earliest finish, latest start, latest finish, and slack times for each activity. Display results in a table format. b. Calculate the critical path. c. What is the total time required to complete the project if no delays occur? QUESTION 2 A small bank employs one teller to serve its customers. Customers arrive at an average rate of 4 persons per day or 6 persons per hour, according to a Poisson distribution. The teller is ale to serve at a rate of 8 persons per hour, following approximately the exponential distribution in service times a) b) Determine the characteristics of the bank teller service problem what is the probability that there will be more that 6 persons either being served or waiting? QUESTION 3 The following data represent a set of demands that have occurred over the last several years atcar manufacturing company. The data have been collected on an annual basis. Year 1 2 3 4 5 6 7 Actual demand (A.) 310 365 395 415 450 465 Use a. the simple average method b. the simple moving average method Forecast (F.) to predict the demand for the 7th year. NOTE: Students must know the formula for the simple average and the simple moving average QUESTION 4 A College charges $40,000 per student per term. Variable cost is $5,000 per student. And the fixed cost for the year is $6,000,000. If the school currently has 2,500 students and there are three terms in a school year a) Write the formula for the total revenue Formula for Total Revenue: Total Revenue = Price Quantity PQ b) Write the formula for the total cost Formula for Total Cost: Total Cost = Variable Cost+ Fixd Cost=VC+FC c) How many students does the school need to break even? QUESTION 5 Study the table below and use it to answer the questions that follow. DECISION TABLE WITH CONDITIONAL PROBABILITIES STATE OF NATURE FAVORABLE OUTCOME UNFAVORABLE OUTCOME ALTERNATIVE ($) ($) Build a School 200,000 -120,000 Build a Hospital 100,000 -50,000 Build Nothing Probability a) Calculate the EMV for each outcome 0 0 0.6 0.4 b) Calculate the best outcome using the maximin criterion c) Calculate the best outcome using the maximax criterion