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Question four 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 Optimistic Most Most Immediate predecessors time Variance likely pessimistic time time AB A 2 3 4 0.11111 2 4 6 0.44444 C A,B 1 2 3 0.11111 D B 1 3 5 0.44444 E A 2 3 4 0.11111 F C 1 4 7 1 G E,F 2 2 2 0 H D,F 2 5 8 1 I G,H 1 3 5 0.44444 J I 2 3 4 0.11111 You must use two decimal places at all times for expected times when they are not integer (you are not permitted to round off to integers). (a) Draw the activity network for this problem (b) Determine the Expected Times. Determine the activity schedule (ES, EF, LS, and LF) as well as slack. Determine and state the critical path for this project. What are the expected time and the variance of the project? (f) What is the probability that the project is completed in 22 or fewer weeks (g) What date should be set such that there is a 94% chance of completion within that time?

Question four 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 Optimistic Most Most Immediate predecessors time Variance likely pessimistic time time AB A 2 3 4 0.11111 2 4 6 0.44444 C A,B 1 2 3 0.11111 D B 1 3 5 0.44444 E A 2 3 4 0.11111 F C 1 4 7 1 G E,F 2 2 2 0 H D,F 2 5 8 1 I G,H 1 3 5 0.44444 J I 2 3 4 0.11111 You must use two decimal places at all times for expected times when they are not integer (you are not permitted to round off to integers). (a) Draw the activity network for this problem (b) Determine the Expected Times. Determine the activity schedule (ES, EF, LS, and LF) as well as slack. Determine and state the critical path for this project. What are the expected time and the variance of the project? (f) What is the probability that the project is completed in 22 or fewer weeks (g) What date should be set such that there is a 94% chance of completion within that time?

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question four 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 Optimistic Most Most Immediate predecessors time Variance likely pessimistic time time AB A 2 3 4 0.11111 2 4 6 0.44444 C A,B 1 2 3 0.11111 D B 1 3 5 0.44444 E A 2 3 4 0.11111 F C 1 4 7 1 G E,F 2 2 2 0 H D,F 2 5 8 1 I G,H 1 3 5 0.44444 J I 2 3 4 0.11111 You must use two decimal places at all times for expected times when they are not integer (you are not permitted to round off to integers). (a) Draw the activity network for this problem (b) Determine the Expected Times. Determine the activity schedule (ES, EF, LS, and LF) as well as slack. Determine and state the critical path for this project. What are the expected time and the variance of the project? (f) What is the probability that the project is completed in 22 or fewer weeks (g) What date should be set such that there is a 94% chance of completion within that time?
Transcribed Image Text:Question four 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 Optimistic Most Most Immediate predecessors time Variance likely pessimistic time time AB A 2 3 4 0.11111 2 4 6 0.44444 C A,B 1 2 3 0.11111 D B 1 3 5 0.44444 E A 2 3 4 0.11111 F C 1 4 7 1 G E,F 2 2 2 0 H D,F 2 5 8 1 I G,H 1 3 5 0.44444 J I 2 3 4 0.11111 You must use two decimal places at all times for expected times when they are not integer (you are not permitted to round off to integers). (a) Draw the activity network for this problem (b) Determine the Expected Times. Determine the activity schedule (ES, EF, LS, and LF) as well as slack. Determine and state the critical path for this project. What are the expected time and the variance of the project? (f) What is the probability that the project is completed in 22 or fewer weeks (g) What date should be set such that there is a 94% chance of completion within that time?
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