Please can you show me how this can be solved? Problem 4Good Homes Construction Company is about to begin the construction of a large new home. The company'sPresident, Michael Dean, is currently planning the schedule for this project. Michael has identified the fivemajor activities (labeled A, B, . . ., E) that will need to be performed according to the following projectnetwork.STARTActivityABсDEAb)NormalTimeHe also has gathered the following data about the normal point and crash point for each of these activities.3 weeks4 weeksB5 weeks3 weeks4 weeksCrashTime2 weeks3 weeks2 weeks1 week2 weeksNormalCostD$54,000$62,000$66,000$40,000$75,000ECrashCost$60,000$65,000FINISH$70,000$43,000$80,000These costs reflect the company's direct costs for the material, equipment, and direct labor required toperform the activities. In addition, the company incurs indirect project costs such as supervision and othercustomary overhead costs, interest charges for capital tied up, and so forth. Michael estimates that theseindirect costs run $5,000 per week. He wants to minimize the overall cost of the project. Therefore, to savesome of these indirect costs, Michael concludes that he should shorten the project by doing some crashing tothe extent that the crashing cost for each additional week saved is less than $5,000.a)To prepare for analyzing the effect of crashing, find the earliest times, latest times, and slack foreach activity when they are done in the normal way. Also, identify the corresponding criticalpath(s) and project duration.Use the linear programming approach to determine which activities should be crashed and byhow much to minimize the overall cost of the project. How much money is saved by doing thiscrashing?

Good Homes Construction Company is about to begin the construction of a large new home. The company's President, Michael Dean, is currently planning the schedule for this project. Michael has identified the five major activities (labeled A, B, ..., E) that will need to be performed according to the following project network.

Good Homes Construction Company is about to begin the construction of a large new home. The company's President, Michael Dean, is currently planning the schedule for this project. Michael has identified the five major activities (labeled A, B, ..., E) that will need to be performed according to the following project network.

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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