M 26 Market Fresh Foods is developing a revolutionary new product. Having just taken over managing the project initiation process for Market Fresh from the previous project controller, Colin Alexander is trying to evaluate the project's risk. Specifically, Colin needs toquantity schedule risk associated with permitting delays. The table below presents the likely delays and Colin's estimates of the delay likelihood. Cost per day of delay is estimated at $22111.To properly quantify the risk, Colin is looking to determine the expected delay costs, probability of a delay, and the expected delay cost given a delay.DelayProbability00.07238.680.066311.27 0.099414.280.099419.040.132521.810.06630.09940.09940.099426.632.4640.1443.4830.03310.1325Expected Impact:Expected Impact Given Delay:Probability of a Delay:(enter answer to 2 decimal places)(enter answer to 2 decimal places)(enter answer to 4 decimal places)

In the given question the risk associated with permitting delays has to be quantified. In Risk…

Market Fresh Foods is developing a revolutionary new product. Having just taken over managing the project initiation process for Market Fresh from the previous project controller, Colin Alexander is trying to evaluate the project's risk. Specifically, Colin needs to uantity schedule risk associated with permitting delays. The table below presents the likely delays and Colin's estimates of the delay likelihood. Cost per day of delay is estimated at $22111. o properly quantify the risk, Colin is looking to determine the expected delay costs, probability of a delay, and the expected delay cost given a delay. Delay Probability 7.WOYE

Market Fresh Foods is developing a revolutionary new product. Having just taken over managing the project initiation process for Market Fresh from the previous project controller, Colin Alexander is trying to evaluate the project's risk. Specifically, Colin needs to uantity schedule risk associated with permitting delays. The table below presents the likely delays and Colin's estimates of the delay likelihood. Cost per day of delay is estimated at $22111. o properly quantify the risk, Colin is looking to determine the expected delay costs, probability of a delay, and the expected delay cost given a delay. Delay Probability 7.WOYE

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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