**Project Time Estimates: Gift Shop Renovation at Orlando Amway Center**A renovation of the gift shop at Orlando Amway Center involves six activities, with estimated time durations provided in hours. The table below displays the optimistic (a), most likely (m), and pessimistic (b) time estimates for each activity:| Activity | a | m | b ||----------|----|----|----|| A | 10 | 15 | 19 || B | 27 | 31 | 42 || C | 18 | 18 | 28 || D | 9 | 14 | 19 || E | 16 | 17 | 21 || F | 17 | 20 | 22 |To determine the expected time for each activity, employ the formula: \[\text{Expected Time} = \frac{a + 4m + b}{6}\]**Expected Times Calculation:**Round your responses to two decimal places and fill in the expected time for each activity listed in the table below:| Activity | Expected Time ||----------|---------------|| A | |Use the provided table to input your calculations and determine the expected duration for the completion of each activity.

Answered: A renovation of the gift shop at…

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...

See similar textbooks

Related questions

Question

**Project Time Estimates: Gift Shop Renovation at Orlando Amway Center**

A renovation of the gift shop at Orlando Amway Center involves six activities, with estimated time durations provided in hours. The table below displays the optimistic (a), most likely (m), and pessimistic (b) time estimates for each activity:

| Activity | a | m | b |
|----------|----|----|----|
| A | 10 | 15 | 19 |
| B | 27 | 31 | 42 |
| C | 18 | 18 | 28 |
| D | 9 | 14 | 19 |
| E | 16 | 17 | 21 |
| F | 17 | 20 | 22 |

To determine the expected time for each activity, employ the formula:

\[
\text{Expected Time} = \frac{a + 4m + b}{6}
\]

**Expected Times Calculation:**

Round your responses to two decimal places and fill in the expected time for each activity listed in the table below:

| Activity | Expected Time |
|----------|---------------|
| A | |

Use the provided table to input your calculations and determine the expected duration for the completion of each activity.

Expert Solution

Step 1: Activity expected time:

In the Program Evaluation and Review Technique (PERT), the expected time for an activity is calculated using a weighted average of the optimistic (a), most likely (m), and pessimistic (b) time estimates. This approach aims to provide a more realistic estimate of the time an activity will take, taking into account both the most likely case and potential variations. This expected time estimate is used in PERT to calculate critical paths, and project completion times, and to better manage project scheduling in situations where there's uncertainty or variability in activity durations.