Question 4: Determine the amount of time in weeks that gives a probability of 97.5% until the seventh event in the following grid, and then find the following: What is the probability of completing the project with a period less than TE by 4 weeks What is the probability of completing the project with a period of more than TE by 2 weeks

Q: the mean time of a project is 10 days with a standard deviation of 2, what is the expected time of…

A:

Q: Eckelberger Products Inc. makes high-speed recorders with high-speed scanning. The small company has…

A: Answer  We know that annual growth rate can be converted into effective growth rate monthly using…

Q: er the start date), what are the va

A: Calculate the ACWP, BCWP and BCWS as below Calculate the value of Actual cost work performed…

Q: Based on the data shown below, calculate the correlation coefficient (to three decimal places) x y…

A: Tabulate the following. x y x2 y2 xy 2 16.75 4 280.5625 33.5 3 15.8 9 249.64 47.4 4 13.55…

Q: 1- What is the probability that a 50-year event will not occur within the next 10 years? probability…

A: Return period of event (T) = 50 years a. Determine the probability that event will not occurs within…

Q: Suppose X is a random variable defined as final cost of project X = estimated cost of project which…

A: The random variable X can be expressed as, X=FC Here, the variable is X, F, is the final cost of the…

Q: For which of the following sets of data should a stacked bar chart be used?     The average age of…

A: stacked bar chart  Stacked bar chart is similar to standard bar chart. In this chart in addition to…

Q: Concrete blocks are manufactured for construction. Assume the weights of the manufactured concrete…

A: GivenMeanμ=11kgStandard devaitionσ=0.3kg

Budget Estimating

The term budget signifies a plan over the long run, generally, a year that covers the financial expenses and revenues of any organization. This budget plan is known to estimate the growth and success of any organization. Civil engineering companies utilize project budgets for estimating project costs, construction costs, and other direct and indirect costs related to the project being undertaken. Project budget is a detailed statistical tool primarily used by project managers to estimate the overall project cost. The project budget is in the form of a document that includes all the costs which are incurred during the project undertaking and after the completion of the project. Large commercial projects have the project budget estimate in the form of large detailed pieces of documents which include every cost estimate regarding man and materials. Labor costs, material procurement costs, construction costs, and operational costs are some of the costs that are incurred during the project execution and planning phase.