Staffing Requirements A famous IT consulting firm Brackenzie and Co, henceforth called the Firm, has a consulting project implementing ERP at a large telecom firm, henceforth called the Client. The project manager, Mr. John Grisham, is in the process of submitting a staffing proposal to his client for the project. The labor requirement is estimated to follow a normal distribution with mean 4000 person-hours and a standard deviation of 500 person-hours. Because the Client is large and influential, the Client pays the Firm for exactly as many hours as are required to complete the project. It is unlikely however, that unutilized time of the consultants will be used up on other projects on short notice, and therefore the Firm will continue to pay $150 per hour to its project staff per hour without any revenue. On the other hand, since the project is high-profile, if the work requirements exceed the budgeted personhours, the Client will hold the Firm accountable for project completion. The Firm will then have to pay $200 per person-hour to hire contract consultants on short notice to make-up for the remaining work requirements. a. (12 points) Mr. John Grisham has asked you for advice on how many person-hours the Firm should allocate to this project with the Client? (Hint: Standard Normal distribution is symmetric around 0 , i.e., (z)=1(z). The Firm Should Allocate 4088 Person-Hours b. (8 points) Describe two realistic factors/modifications that should be considered in the application of this solution in practice, and discuss how those factors would change the answer found in part (a)