7. Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. a. Draw the precedence diagram. b. What is the probability that the project can be completed in 24 days or less? In 21 days or less? c. Suppose it is now the end of the seventh day and that activities A and B have been completed, while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. Immediate Activity Predecessor Optimistic 5 ABCDEFGH А с I End DI I CDEFGH - A с |6ס ד ס I D F B H E, G, I 8 UPNыло 000 87876 6 9 5 5 2 4 5 Activity First Crash Second Crash $8 10 9 $10 TIME IN DAYS m1099 88 11 Most Likely 6 00 00 8 d. The partners have decided that shortening the project by two days would be beneficial, as long as it doesn't cost more than about $20,000. They have estimated the daily crashing costs for each activity in thousands, as shown in the following table. Which activities should be crashed, and what further analysis would they probably want to do? 2663 + 12 7 Pessimistic 7 11 11 15 977580
7. Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. a. Draw the precedence diagram. b. What is the probability that the project can be completed in 24 days or less? In 21 days or less? c. Suppose it is now the end of the seventh day and that activities A and B have been completed, while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. Immediate Activity Predecessor Optimistic 5 ABCDEFGH А с I End DI I CDEFGH - A с |6ס ד ס I D F B H E, G, I 8 UPNыло 000 87876 6 9 5 5 2 4 5 Activity First Crash Second Crash $8 10 9 $10 TIME IN DAYS m1099 88 11 Most Likely 6 00 00 8 d. The partners have decided that shortening the project by two days would be beneficial, as long as it doesn't cost more than about $20,000. They have estimated the daily crashing costs for each activity in thousands, as shown in the following table. Which activities should be crashed, and what further analysis would they probably want to do? 2663 + 12 7 Pessimistic 7 11 11 15 977580
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Ch 17 #7-Please assist me with answering a, b and c. Please provide step by step instructions as to how you arrive at each answer. Please do not skip steps as the process is important.
Transcribed Image Text:7. Three recent college graduates have formed a partnership and have opened an advertising firm. Their first
project consists of activities listed in the following table.
a. Draw the precedence diagram.
b. What is the probability that the project can be completed in 24 days or less? In 21 days or less?
c. Suppose it is now the end of the seventh day and that activities A and B have been completed, while
activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7.
Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the
probability of finishing by day 21.
Immediate
Activity Predecessor
A B C D
с
E
ח ד 6 I
F
G
H
I
End
CDELI -
с
F
TUO | D | |
G
A
H
с
D
F
B
H
E, G, I
Optimistic
LO 00
5
8
6
9
5
5
2
4
Activity First Crash Second Crash
$8
10
9
7
8
7
6
LO
5
$10
11
10
9
9
8
TIME IN DAYS
00 00
8
Most Likely
6
8
8
12
6
d. The partners have decided that shortening the project by two days would be beneficial, as long as it
doesn't cost more than about $20,000. They have estimated the daily crashing costs for each activity in
thousands, as shown in the following table. Which activities should be crashed, and what further analysis
would they probably want to do?
63 +
6
4
7
Pessimistic
7
11
11
15
9
7
7
LO
5
8
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