Refer to Exercises 6 25 and 6 26 Suppose that the probabilities
Refer to Exercises 6.25 and 6.26. Suppose that the probabilities of timely completion are as in Exercise 6.25 for Maria, Alex, and Juan but that Jacob has a probability of completing on time of .7 if Juan is on time and .5 if Juan is late.
a. Use simulation (with at least 20 trials) to estimate the probability that the project is completed on time.
b. Compare the probability from Part (a) to the one computed in Exercise 6.26. Which decrease in the probability of on-time completion (Maria’s or Jacob’s) resulted in the biggest change in the probability that the project is completed on time?
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help