What is the likelihood that the project will be completed within 30 days? If required, round your answer to four decimals. Note: Use Appendix B to identify the probabil Likelihood = If activity B is delayed by six days beyond its early start time, how does this affect the expected project duration? If required, round your answer to one decimal place. LA delay of 6 days to activity B will affect the time to complete this project because activity B has a slack of [ days. Using all paths through the project network, estimate the probability that the project will be completed within 30 days. Compare your answer to the answer in part e a Round your answers for z values to 2 decimal places and for probability values to 4 decimal places. For path B-D-F: Cumulative probability = For path A-F: Cumulative probability = P(entire project completed) : %3D
What is the likelihood that the project will be completed within 30 days? If required, round your answer to four decimals. Note: Use Appendix B to identify the probabil Likelihood = If activity B is delayed by six days beyond its early start time, how does this affect the expected project duration? If required, round your answer to one decimal place. LA delay of 6 days to activity B will affect the time to complete this project because activity B has a slack of [ days. Using all paths through the project network, estimate the probability that the project will be completed within 30 days. Compare your answer to the answer in part e a Round your answers for z values to 2 decimal places and for probability values to 4 decimal places. For path B-D-F: Cumulative probability = For path A-F: Cumulative probability = P(entire project completed) : %3D
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...
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At a local university, the Student Commission on Programming and Entertainment (SCOPE) is preparing to host its first rock concert of the school year. To successfully produce this rock concert, SCOPE has listed the requisite activities and related information in the following table (duration estimates measured in days).
Already found the times, expected times, variances, and slacks.
Need help with the rest. Thanks. ^.^
Transcribed Image Text:### Project Planning for a Rock Concert
#### Overview
At a local university, the Student Commission on Programming and Entertainment (SCOPE) is preparing to host its first rock concert of the school year. To successfully produce this event, SCOPE has provided the necessary activities and related information in a table showing duration estimates (in days).
#### Activity Information
The table outlines the following details for each activity:
- **Activities**: A list of tasks required, ranging from negotiation to concession sales.
- **Immediate Predecessor(s)**: Activities that must be completed before starting a new one.
- **Time Estimates**:
- **Optimistic**: Best-case scenario.
- **Most Probable**: Most likely duration.
- **Pessimistic**: Worst-case scenario.
#### Time and Variance Calculations
The project plan includes a detailed breakdown of expected times and variances for each activity:
- **Activity A (Negotiate contract)**: Expected Time = 10.5 days, Variance = 0.69
- **Activity B (Reserve site)**: Expected Time = 8 days, Variance = 0.44
- **Activity C (Manage travel logistics)**: Expected Time = 6.5 days, Variance = 1.36
- **Activity D (Screen & hire security)**: Expected Time = 3 days, Variance = 0.11
- **Activity E (Arrange advertising)**: Expected Time = 5 days, Variance = 0
- **Activity F (Hire parking staff)**: Expected Time = 7 days, Variance = 0.44
- **Activity G (Arrange concession sales)**: Expected Time = 7.5 days, Variance = 2.25
#### Schedule Analysis
The schedule analysis provides information about the earliest and latest start and finish times, along with the slack for each activity:
- **Slack**: The amount of time an activity can be delayed without delaying the project.
#### Likelihood of Completion
Calculate the likelihood of completing the project within 30 days. Use the provided data and statistical tables (Appendix B) to find the probability.
#### Impact of Delays
Assess the impact of a six-day delay in activity B and how it affects the overall project duration. The slack associated with activity B is considered in this evaluation.
#### Probability Estimation
For different paths through the project network, calculate the z-value
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