Refer to the previous question. Suppose a partner in Koene Technology does not believe the time estimates
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Refer to the previous question. Suppose a partner in Koene Technology does not believe the time estimates for each activity can be specified with certainty. Instead, he prefers to specify a minimum, most likely, and maximum number of days for each activity. These estimates are given in the following table.
a. Use PERT to identify the expected time and variance for each activity.
b. What is the critical path? What is the expected time and variance for this path?
c. Assume that the distribution of the completion time for the critical path is normally distributed. What is the probability that it will take at least 40 days to complete theproject?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
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