Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are shown in the following table: Time Estimates (days) Activity Optimistic Most Likely Pessimistic A 4 7 10 A B 4 7 10 Start C 5 7 8 B D 2 4 5 E 3 6 10 D G Finish E a. What is the expected completion time of the project? The expected completion time is 17 days. (Enter your response as an integer.) b. What is the probability of completing the project in 19 days? Refer to the standard normal table. The probability of completing the project in 19 days is 89.07. (Enter your response rounded to four decimal places.)
Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are shown in the following table: Time Estimates (days) Activity Optimistic Most Likely Pessimistic A 4 7 10 A B 4 7 10 Start C 5 7 8 B D 2 4 5 E 3 6 10 D G Finish E a. What is the expected completion time of the project? The expected completion time is 17 days. (Enter your response as an integer.) b. What is the probability of completing the project in 19 days? Refer to the standard normal table. The probability of completing the project in 19 days is 89.07. (Enter your response rounded to four decimal places.)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Transcribed Image Text:Recently, you were assigned to manage a project for your company. You have constructed a network diagram depicting the various activities in the project (shown
below to the right). In addition, you have asked your team to estimate the amount of time that they would expect each of the activities to take. Their responses are
shown in the following table:
Time Estimates (days)
Activity
Optimistic
Most Likely
Pessimistic
A
4
7
10
A
B
4
7
10
Start
C
5
7
8
B
D
2
4
5
E
3
6
10
D
G
Finish
E
a. What is the expected completion time of the project?
The expected completion time is 17 days. (Enter your response as an integer.)
b. What is the probability of completing the project in 19 days? Refer to the standard normal table.
The probability of completing the project in 19 days is 89.07. (Enter your response rounded to four decimal places.)
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