Consider a project that has been modeled as in the table below: a. Draw the PERT/CPM network for this project and determine the project’s expected completion time μP and its critical path. b. Suppose the standard deviations of the activity durations are σA = 2, σB = 1, σC = 0, σD = 2, σE = 3, and σF = 0. Then please estimate the standard deviation of the overall project’s standard deviation σP . c. Suppose for the standard Normal random variable Z, we know P[−1 ≤ Z ≤ +1] ' 68%, P[−2 ≤ Z ≤ +2] ' 95%, and P[−3 ≤ Z ≤ +3] ' 99.7%. Then, approximately what time T is one for which there is only a less than 2.5% chance for the completion time to beat (be shorter than)? *Please solve a-c and neatly write or type your answers, showing your steps, NO EXCEL*
Consider a project that has been modeled as in the table below: a. Draw the PERT/CPM network for this project and determine the project’s expected completion time μP and its critical path. b. Suppose the standard deviations of the activity durations are σA = 2, σB = 1, σC = 0, σD = 2, σE = 3, and σF = 0. Then please estimate the standard deviation of the overall project’s standard deviation σP . c. Suppose for the standard Normal random variable Z, we know P[−1 ≤ Z ≤ +1] ' 68%, P[−2 ≤ Z ≤ +2] ' 95%, and P[−3 ≤ Z ≤ +3] ' 99.7%. Then, approximately what time T is one for which there is only a less than 2.5% chance for the completion time to beat (be shorter than)? *Please solve a-c and neatly write or type your answers, showing your steps, NO EXCEL*
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
Consider a project that has been modeled as in the table below:
a. Draw the PERT/CPM network for this project and determine the project’s
expected completion time μP and its critical path.
b. Suppose the standard deviations of the activity durations are σA = 2,
σB = 1, σC = 0, σD = 2, σE = 3, and σF = 0. Then please estimate the standard
deviation of the overall project’s standard deviation σP .
c. Suppose for the standard Normal random variable Z, we know P[−1 ≤
Z ≤ +1] ' 68%, P[−2 ≤ Z ≤ +2] ' 95%, and P[−3 ≤ Z ≤ +3] ' 99.7%. Then,
approximately what time T is one for which there is only a less than 2.5% chance for
the completion time to beat (be shorter than)?
*Please solve a-c and neatly write or type your answers, showing your steps, NO EXCEL*
Transcribed Image Text:Table 1: Activities and Predecessors
Activity Immediate Predecessors Duration
A
7
В
A
6
C
A
3
D
B,C
12
E
B,C
14
F
D,E
5
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