A small project consisting of eight activities has the following characteristics: Time estimate (in weeks) Activity Preceding activity Most Optimistic time (a) Most likely time (m) Most Pessimestic time (b) A None 2 4 12 B None 10 12 26 C A 8 9 10 D A 10 15 20 E A 7 7.5 11 F B, C 9 9 9 G D 3 3.5 7 H E, F, G 5 5 5 What is the probability of completing the project exactly on the due date? If a 30- week deadline is imposed, what is the probability that the project will be finished within the time limit? What is the project variance?
A small project consisting of eight activities has the following characteristics: Time estimate (in weeks) Activity Preceding activity Most Optimistic time (a) Most likely time (m) Most Pessimestic time (b) A None 2 4 12 B None 10 12 26 C A 8 9 10 D A 10 15 20 E A 7 7.5 11 F B, C 9 9 9 G D 3 3.5 7 H E, F, G 5 5 5 What is the probability of completing the project exactly on the due date? If a 30- week deadline is imposed, what is the probability that the project will be finished within the time limit? What is the project variance?
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...
Related questions
Question
- A small project consisting of eight activities has the following characteristics:
Time estimate (in weeks)
|
Activity |
Preceding activity |
Most Optimistic time (a) |
Most likely time (m) |
Most Pessimestic time (b) |
|
A |
None |
2 |
4 |
12 |
|
B |
None |
10 |
12 |
26 |
|
C |
A |
8 |
9 |
10 |
|
D |
A |
10 |
15 |
20 |
|
E |
A |
7 |
7.5 |
11 |
|
F |
B, C |
9 |
9 |
9 |
|
G |
D |
3 |
3.5 |
7 |
|
H |
E, F, G |
5 |
5 |
5 |
- What is the probability of completing the project exactly on the due date?
- If a 30- week deadline is imposed, what is the probability that the project will be finished within the time limit?
- What is the project variance?
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Follow-up Question
z =(x-µ)/σ = (30-29)/2.45 = 0.4082
Probability P(z) = NORMSDIST(0.4082) = 0.6585 or 65.85%
How is 0.4082 changed to o.6585?
Solution
by Bartleby ExpertFollow-up Question
standard Deviation (σ) = SQRT(Variance) = SQRT(6) = 2.45
This is not clear for me. How did you do it?
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