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ANSWER THE FOLLOWING QUESTIONS ( SHOW ALL WORKINGS) 1. Determine and state the critical path for this project. 2. What are the expected time and the variance of the project? 3. What is the probability that the project is completed in 22 or fewer weeks 4. What date should be set such that there is a 94% chance of completion within that time?

ANSWER THE FOLLOWING QUESTIONS ( SHOW ALL WORKINGS) 1. Determine and state the critical path for this project. 2. What are the expected time and the variance of the project? 3. What is the probability that the project is completed in 22 or fewer weeks 4. What date should be set such that there is a 94% chance of completion within that time?

Practical Management Science
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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ANSWER THE FOLLOWING QUESTIONS ( SHOW ALL WORKINGS)

1. Determine and state the critical path for this project.

2. What are the expected time and the variance of the project?

3. What is the probability that the project is completed in 22 or fewer weeks

4. What date should be set such that there is a 94% chance of completion within that time? 

A new project is to be completed. The following activities need to be completed in the order shown, where times are in weeks. A new project is to be completed. The following activities need to be completed in the order shown, where times are in weeks. Activity Variance A B C D E F G H I J Immediate Optimistic Most predecessors time likely time A,B B A с E,F D,F G,H I 2 2 1 1 2 1 2 2 1 2 3 4 2 3 3 4 2 5 3 3 Most pessimistic time 4 6 3 5 4 7 2 8 5 4 0.11111 0.44444 0.11111 0.44444 0.11111 1 0 1 0.44444 0.11111
Transcribed Image Text:A new project is to be completed. The following activities need to be completed in the order shown, where times are in weeks. A new project is to be completed. The following activities need to be completed in the order shown, where times are in weeks. Activity Variance A B C D E F G H I J Immediate Optimistic Most predecessors time likely time A,B B A с E,F D,F G,H I 2 2 1 1 2 1 2 2 1 2 3 4 2 3 3 4 2 5 3 3 Most pessimistic time 4 6 3 5 4 7 2 8 5 4 0.11111 0.44444 0.11111 0.44444 0.11111 1 0 1 0.44444 0.11111
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