Given the project information in the following table, what is the probability of completing the National Holiday Toy project in 95-time units? Hint: Use the =NORM.S.DIST(z, TRUE) function in Excel to compute the probability. (Carry at least 2 decimal places in your task time and variance calculations and at least 3 decimal places in your z value calculation. Enter your final probability answer to 3 decimal places.) Acct. ID 1 2 234567 3 4 Ч 7 Description Design package Design product Build package Secure patent Build product Paint Test market Predecessor None 1 12222 3,4,5 Optimistic Most Likely Pessimistic (a) 6 15 4 24 17 4 13 The probability of completing the project in 95 time units is 2212219 27 16 (b) 24 28 10 36 47 12 19 Activity Variance Time (te) [(ba)/6]² Critical? 9 X X 13 19.83 7 28 30 7.33 16 4.69 1 4 25 1.78 1 xxx
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- A project has a PV at status of $55000 at the status date and a BAC of $180000 at the end of the project. the project schedule is 14 months and at the status date AC is equal to 121000 and EV has been calculated to be 31000. project sponsor wants to know what the VACdur forecast is in months if a new eac$ is used for revised funding? sponsor assuming the project will continue the way it is currently going.Please do not give solution in image formate thanku. 11-24 Using PERT, Ed Rose was able to determine that the expected project completion time for the construction of a pleasure yacht is 21 months and the project variance is 4. What is the probability that the project will be completed in 17 months or less? What is the probability that the project will be completed in 20 months or less? What is the probability that the project will be completed in 23 months or less? What is the probability that the project will be completed in 25 months or less?(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…
- (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. P(X 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. Predecessors Activity A B с D D Time (weeks) 13 12 10 9 E F G H - A A Activity E C, E D, F (a) Draw a network with 1, ES, EF, LS, and LF (follow the same format as Figure 11.5 on p.394). F G H (b) Complete the following table (similar in format to Table 11.3 on p.396). Activity Time (weeks) ES EF LS A B с (c) Identify the critical path(s): (d) Based on your analysis, the project completion time is: Time (weeks) Predecessors B B 11 13 17 14 LF Slack…What is the minimum cost of crashing the following project that Roger Solano manages at Slippery Rock University by 4 days? Normal Crash Activity Time (days) Time (days) A BUDI The total cost of crashing the project by 4 days is $ C E 68458 5 6335 Activity BCDE Normal Cost 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.) с $900 $300 $500 $900 $1,000 Total Cost with Crashing Immediate Predecessor(s) $1,000 $400 $600 $1,200 $1,600 (Enter your response as a whole number.) Each Activity Should be Reduced BY (days) | | | < 0The Platinum Star Hotel in Kingston, NY, is considering doing overbooking in order to deal with the constant problem they have with no-shows. The table given below presents the number of no-shows and the probability of each occurring. Number of Shows (d) Probability of No-shows Occurring P(d) 0 0.10 1 0.07 2 0.12 3 0.02 4 0.07 5 0.01 6 0.04 7 0.19 8 0.22 9 0.16 a) What would be your recommendation for overbooking if the average rate per room per night is S125 and the cost of not honoring a reservation is $155? b) What is the expected loss for your overbooking choice? c) State the reasoning for selecting your overbooking choice?
- The CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decide how large the station should be. The annual returns (IDR billions) will depend on both the size of the station and market factor. After a careful analysis he developed the following table: Size of Station Good Market Fair Market Poor Market Small 50 20 -10 Medium 70 30 -20 Large 100 50 -30 Probability 0.5 0.3 0.2 Compute the expected value of each alternative size of station, and select the best decision. Construct the opportunity loss table and determine the best decision. Compute the expected value of perfect information.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: D ew an example Activity A B с D Get more help. E Optimistic 4 5 4 1 Time Estimates (days) Most Likely 8 8 5 4 3 a. What is the expected completion time of the project? The expected completion time is days. (Enter your response as an integer.) 8 Pessimistic 12 12 7 5 MacBook Pro 9 Start + B D ( Finish A Q Q Clear all Check answer +MegaJoy Corp. is planning to open a new video arcade. It has narrowed the choices to a large or small arcade.(All costs and revenues in this problem are expressed in thousands of dollars.) The cost of a large arcade is $400, and the cost of a small arcade is $300.It has forecast that the demand will be low with probability 0.3 and high with probability 0.7.If MegaJoy builds a small arcade and the demand is high, then it expects revenues of $540. If MegaJoy builds a large arcade and the demand is low, then it has two alternatives: do nothing and earn revenue of $380, or reduce prices and earn revenues of $450. a. Draw a decision tree for this problem. b. Which choice yields the maximum expected money value?( Show calculation) c. A consulting firm has offered to perform reseach and forecast the demand fo MegaJoy. The firm will charge $8(thouthand) for its services, and it claims that the information will be 100% accurate. Should MegaJoy pay for the consulting services? Justify your…
- A manufacturing company intends to develop an application software for automating its design process. The task details associated to the project are shown in Table 1 below. The duration of each task follows a Beta distribution. Project crashing up to a maximum of 2 days per task is allowed, with the exception of tasks B and J, subject to the crash costs being met. Task Task Details Time (days) Optimistic Most likely Preceding Task Crash Pessimistic Cost per day ($) A High-level analysis. 7. Nil 700 B. Selection of hardware platform. 2 1500 C. Installation and commissioning of hardware. Detailed analysis of core modules. 1500 10 12 10 13 A 1500 Detailed analysis of supporting modules. Programming of core modules. E 6. 10 12 1000 F 800 10 15 D Programming of supporting modules. Quality assurance of core modules. 10 15 20 E 800 7 1000 Quality assurance (QA) of supporting modules. Core module training. Development and QA of accounting reporting. L. 8 1500 1 2 C,H 1500 K 2 E 1000…What is the difference between Maximum Foreseeable Loss(MFL), Probable Maximum Loss(PML), and Estimated Maximum Loss(EML)? Please use your own word :)Conoly Co. has identified an investment projectwith the following cash flows. If the discount rate is 10 percent, what is the present valueof these cash flows? What is the present value at 18 percent? At 24 percent?Year Cash Flow1 $ 9602 8403 9354 1,350