Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The project described in the following table has just begun. It is scheduled to be completed in 11 weeks. Use Table B1 and Table B2.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The project described in the following table has just begun. It is scheduled to be completed in 11 weeks. Use Table B1 and Table B2. Estimated Time Path Activity (weeks) A Standard Deviation (weeks.) 0.70 0.90 0.62 1.90 B Click here for the Excel Data File a. If you were the manager of this project, would you be concerned? (Round your intermediate calculations to 2 decimal places and "Probability" values to 4 decimal places.) Yes because the probability of finishing on schedule is about b. If there is a penalty of $5,000 a week for each week the project is late, what is the probability of incurring a penalty of at least $5,000? (Round your intermediate calculations to 2 decimal places and "Probability" values to 4 decimal places.) Probably A project manager has compiled a list of major activities that will be required to install a computer information system in her firm. The list includes estimated completion times for activities and precedence relationships. Use Table B1 and Table B2 Innediate Estimated Times Activity Predecessor (weeks) 2-4-6 D 6-8-10 E D 7-9-12 H 2-3-5 E 3-4-8 G 5-7-9 B 2-2-3 2-3-6 J 3-4-5 4-5-8 C 5-8-12 M 1-1-1 N M 6-7-11 0 N 8-9-13 End HG, K, O COC F Click here for the Excel Data File a. Determine the mean and standard deviation for each of the following paths in the project. (Round Mean and Standard Deviation to 2 decimal places.) Path Moan Sid. Dev. -d-eh --- b-I- O--- b. If the project finishes within 26 weeks of its stort, the project manager receives a $1,000 bonus. What is the probability of a $1,000 bonus? (Round z-value to 2 decimal places, and probability to 4 decimal places) Probability (1,000) c. If the project finishes within 27 weeks of its start, the project manager receives a $500 bonus. What is the probability of a $500 bonus? (Round z-value to 2 decimal places, and probability to 4 decimal places.) Probabaty (5500)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inventory Best Practices

Authors: Steven M. Bragg

2nd Edition

1118000749, 9781118000748

More Books

Students also viewed these Accounting questions