This image shows a "Table of Standard Normal Probabilities" used in statistics to find the probability of a standard normal random variable Z being less than or equal to a given value.### Explanation:- **Rows and Columns**: The table is organized with Z-values listed along the leftmost column and additional decimal points along the topmost row.- **Values**: Each cell in the table provides the cumulative probability for a specific Z-value. To find P(Z ≤ z), you identify the appropriate row based on the Z-value's first decimal place and use the column for the second decimal place.For example:- To find P(Z ≤ 0.47), locate 0.4 in the left column and 0.07 in the top row. The cell at the intersection contains 0.6808, which is the probability.The table is a vital tool for statistical analyses, particularly in areas involving standard normal distribution assessments. The following information relates to a project (task times are in weeks). Use the information to solve for the critical path and then to determine the probability that the project could be completed within 36 weeks.| Task | Preceding Tasks | $ t_o $ | $ t_m $ | $ t_p $ ||------|-----------------|--------|--------|--------|| A | None | 4 | 6 | 8 || B | A | 4 | 7 | 10 || C | A | 2 | 7 | 12 || D | B | 8 | 13 | 18 || E | C | 3 | 9 | 15 || F | D, E | 6 | 8 | 10 |- Click the icon to view the table of standard normal probabilities.- The probability that the project is completed within 36 weeks is [____]. (Enter your response rounded to four decimal places.)

Given, Desired completion time X= 36 weeks Formulae: Expected time μ= (to+4*tm+tp)/6 Variance =…

Answered: The following information relates to a…

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...

See similar textbooks

Similar questions

What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days? Crash Normal Activity Time (days) Time (days) Normal Cost A 5 4 B 9 7 C 6 5 D 7 5 E 7 4 Total Cost with Crashing Immediate Predecessor(s) $800 $300 $600 $750 $1,200 By how many days should each activity be crashed to reduce the project completion time by 4 days? Fill in the table below. (Enter your responses as whole numbers.) Each Activity Should be Reduced BY (days) Activity A B C D E $1,100 $400 $650 $1,500 $1,650 | | | < 0
Decision Table Exercises. An insurance company is going to send a mail to potential customers. The content of the mail is about the current level of discounting and potential level of discounting. The content is different for different types of customers. All customers get a normal letter except Customer Type C, who get a special letter. A customer Type A with only one car gets both letters (normal and special). Any customer with 2 or more Cars or with crdit rating of "X" get a special paragraph added with an offer to subscribe to another level of discounting. Draw a Decision table for the insurance company's mail
(3) A project was planned using PERT. Its expected completion time was determined to be 85 days. The variance of the critical path is 49. What is the probability the project will be completed within 75 days (5 decimal places)? Let X= the project completion time. PIX Please show how you use the Normal Curve Table to obtain your answer in the space below. (4) Perform a project management analysis for the data given below to determine ES, EF, LS, LF, and slack for each activity, the total project completion time, and the critical path. Activity E 12 F B 10 G C.E 9 H D, F (a) Draw a network with 1, ES, EF, LS, and LF (follow the same format as Figure 11.5 on p.394), B с Activity Time (weeks) Predecessors A B с D D E F G 13 (b) Complete the following table (similar in format to Table 11.3 on p.396), Activity Time (weds) ES EF LS A A A Time (weeks) Predecessors B (c) Identify the critical path(s): (4) Based on your analysis, the project completion time is: LF 11 13 17 Slack Critical? weeks…
Consider the following decision tree. Which decision, A or B, is best? What is the expected value of this decision? .40 $3,000 A B 2 .20 .80 OA, expected payoff = $2,000 OA, expected payoff = $2,120 OB, expected payoff = $1,800 OA, expected payoff = $2,100 .60 -$1,000 $2,500 $2,000 $1,800
4. Using a discounted rate of 12 percent, INITIAL COST NET CASH FLOW YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 PROJECT A (BROILER) K100,000 (20,000) 10,000 40.000 40.000 150.000 PROJECT B (LAYERS) K100,000 33,000 33,000 33,000 33,000 33,000 a. Determine the net present value of project A and B b. Calculate the IRR on mutually exclusive investment of project A and B. C. Which project must the farm undertake and why?
Evaluate the below statement according to the project management terminologies and choose the correct answer: It is the process of making a forecast or precise approximation Choose... of time and cost associated with a work package or activity. Graphically describes a project consisting of well-defined Choose.. activities, the completion of which marks its end. One of the Perform Quantitative Risk Analysis process has a Choose.. Tools and Techniques. Useful for building accountability through assigning specific Choose.. tasks to team members. It is the standard format each path through the network must be continuous with no gaps, discontinuities, or dangling Choose... activities. Organizational Assets, Project Scope Statement, Cost Management Plan and Schedule Management Plan are inputs Choose.. of: Choose... Work Breakdown Structure Expert Judgment Bar chart Estimating A horizontal diagram format Plan Risk Management
Consider the office renovation project data in the following table. A "zero" time estimate means that the activity could take a very small amount of time and should be treated as a numeric zero in the analysis. a. Based on the critical path, find the probability of completing the office renovation project by 39 days. Refer to the standard normal table (Make sure to round all intermediate calculations for te and variance to two decimal places.) The probability is
1. Suppose we have a project with the following cash flows and required return. What is the NPV and IRR of the project? t 0 $ Cash flow (250,000) 1 234567 Return: NPV: IRR: 41,000 48,000 63,000 79,000 88,000 64,000 41,000 12% 2. Given the information of Stock A, please figure out the expected return, variance, and standard deviation of the stock. (6) (5) Squared (1) State of (2) (3) (4) Probability of Return if State Product Return Deviation from Expected Return Return Deviation from Expected (7) Product Economy State Occurs (2) × (3) (3) - E(R) Return (2) x (6) Boom 0.2 0.24 Normal 0.5 0.11 Recovery 0.2 0.02 Recession 0.1 -0.013 Expected return= Variance = The standard deviation is the square root of the variance, so the standard deviation is: Standard deviation:
An R&D project in a company is working on a project to make a sample product to be displayed at an international fair in Las Vegas held in 18 months. With additional equipments, the company can make sure they make the sample in 18 months. Develop an optimal crashing time-cost solution to help the company in this project to be ready on time for the fair. C, 4 B, 3 А,5 H,7 D, 3 F, 9 G, 2 Cost per month Activity Normal Time to crash 9,000 4,000 6,000 4,000 2,000 5,000 2,000 9,000 A В C 4 E F 9. G 2 H 7 Duration Path Activity to crash (months) АВСН ADEH FGH
The manager of the Oak Hills Swimming Club is planning the club’s swimming team program. The first team practice is scheduled for May 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are as follows: Activity Optimistic Most Probable Pessimistic Immediate Predecessors A 1 2 3 - B 4 6 8 A C 2 4 6 A D 1 2 3 B, C E 2 3 4 B F 1 2 3 A G 1 2 3 D H 1 2 3 G I 1 1 1 E, H, F A. Draw a project network for this problem. B. Fill in all the blanks in the following table. Note: For variance (σ2) in activity time, keep two decimal places. Activity Expected Time t (weeks) Variance σ2 ES EF LS LF Slack Critical Path? A B C D…
The following represents a project that should be scheduled using CPM: TIMES (DAYS) ACTIVITY IMMEDIATE PREDECESSORS ABCDEFGH G H A A-D-G-H A-C-F-H B-E-G-H A-D-F-H A B C,D D, E F,G b. What is the critical path? a 1 1 1 2 3 3 1 2 m 3 2 2 3 4 4 4 4 D53341565 b 11
The manager of the Oak Hills Swimming Club is planning the club’s swimming team program. The first team practice is scheduled for May 1. The activities, their immediate predecessors, and the activity time estimates (in weeks) are as follows: Activity Optimistic Most Probable Pessimistic Immediate Predecessors A 1 2 3 - B 4 6 8 A C 2 4 6 A D 1 2 3 B, C E 2 3 4 B F 1 2 3 A G 1 2 3 D H 1 2 3 G I 1 1 1 E, H, F a. Draw a project network for this problem. b. Fill in all the blanks in the following table. c. What is the expected time and variance to complete the project? Note: For variance (σ2) in activity time, keep two decimal places. Activity Expected Time t (weeks) Variance σ2 ES EF LS LF Slack Critical Path? A B C…

SEE MORE QUESTIONS

Recommended textbooks for you

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Practical Management Science

Operations Management

ISBN:

9781337406659

Author:

WINSTON, Wayne L.

Publisher:

Cengage,

Operations Management

ISBN:

9781259667473

Author:

William J Stevenson

Publisher:

McGraw-Hill Education

Operations and Supply Chain Management (Mcgraw-hi…

Operations Management

ISBN:

9781259666100

Author:

F. Robert Jacobs, Richard B Chase

Publisher:

McGraw-Hill Education

Business in Action

Operations Management

ISBN:

9780135198100

Author:

BOVEE

Publisher:

PEARSON CO

Purchasing and Supply Chain Management

Operations Management

ISBN:

9781285869681

Author:

Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:

Cengage Learning

Production and Operations Analysis, Seventh Editi…

Operations Management

ISBN:

9781478623069

Author:

Steven Nahmias, Tava Lennon Olsen

Publisher:

Waveland Press, Inc.

SEE MORE TEXTBOOKS