The project described in the following table is scheduled to be completed in 11 weeks. Construct a
Question:
a. If you were the manager of this project, would you be concerned? Explain.
b. If there is a penalty of $ 5,000 a week for each week the project is late, what is the probability of incurring a penalty of at least $5,000?
Transcribed Image Text:
Estimated Time Standard 6 Path Activity (weeks) Deviation (wks.) 0.70 0.90 0.62 1.90
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (15 reviews)
a If you were the manager of this project would you be concerned Explain Probability T 11 weeks Path ...View the full answer
Answered By
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Management Leadership questions
-
Construct a network diagram using AON notation.
-
The project described in tire following table and precedence network has just begun. It is scheduled to be completed in 11 weeks. a. if you were the manager of tills project, would you be concerned?...
-
If you were a manager of Xyz such company, here are the instructions. Would you just follow them to the dot or would you add your two-cent... you are the boss and the meeting is starting now. Prepare...
-
Firebird Bicycle Company, a fictional company, produces three brands of bicycles: Racing, Mountain, and Cruiser bicycles. The master schedule in the following table shows the demand requirements for...
-
The chief counsel for a large corporation comes to you for advice. She wants to know what makes a firm's appraisal system legally vulnerable. What would you tell her?
-
In Table, the price elasticity of demand for Kelloggs Corn Flakes includes a wide range of estimates. It turns out one end of the range is observed for low income households, while the other is...
-
Smith et al. [1992] discuss a study of the ozone layer over the Antarctic. These scientists developed a measure of the degree to which oceanic phytoplankton production is inhibited by exposure to...
-
Consider a blending tank that has the same dimensions and nominal flow rates as the storage tank in Exercise 2.13 but incorporates a valve on the outflow line that is used to establish flow rate w3....
-
What would be the gross debt service (GDS) ratio based on the following information? Current monthly gross income = $4000 Current monthly after-tax income = $2800 Monthly mortgage payment = $950...
-
Write the code for function diamond in the file exercise1.py. The function diamond: takes one parameter N (type int), its value must be odd and in the range [3,99] it draws a square shape made of...
-
Construct a network diagram for the information in the following table. Use either AOA or AON (see Example 5 for either type). What is the probability that the project will take more than 10 weeks to...
-
The following precedence diagram reflects three time estimates in weeks for each activity. Determine: a. The expected completion time for each path and its variance. b. The probability that the...
-
In the circuit of Fig. 3-25, R 1 = 0 and R = 1 k. Draw the simplified circuit and find v for b = 50, 100, 200. Note that v changes proportionally with b. 10 mV (+ www 1 R bi t R
-
Betsy Minor is considering the diversification benefits of a two stock portfolio. The expected return of stock A is 14 percent with a standard deviation of 18 percent and the expected return of stock...
-
3. The manufacturing firm X have the option to go ahead with a project. Assume that the projects first year costs $60, and increases to $70 in the second year due to expected increase in raw material...
-
Discuss how price discrimination can enhance the effectiveness of a limit pricing strategy.
-
How can a professional salesperson be effective when working through a Decision-Making Unit (DMU)/Buying center?
-
What is forecasting risk and why is it important to the analysis of capital expenditure projects? What methods. can be used to reduce this risk?
-
Find equations of (a) The tangent plane (b) The normal line to the given surface at the specified point. yz = ln(x + z), (0, 0, 1)
-
(a) Prove that form an orthonormal basis for R3 for the usual dot product. (b) Find the coordinates of v = (1, 1, 1)T relative to this basis. (c) Verify formula (5.5) in this particular case. 48-65...
-
Since the sample size in Problem 2.1 is not very large, it is better to use exact tests. (a) Apply exact tests to test the hypothesis in (2.48) for the data in Problem 2.1 and compare your results...
-
KVS Pharmacy fills prescriptions for a popular childrens antibiotic, Amoxycilin. The daily demand for Amoxycilin is normally distributed with a mean of 200 ounces and a standard deviation of 80...
-
KVS Pharmacy fills prescriptions for a popular childrens antibiotic, Amoxycilin. The daily demand for Amoxycilin is normally distributed with a mean of 200 ounces and a standard deviation of 80...
-
Food Place Market stocks frozen pizzas in a refrigerated display case. The average daily demand for the pizzas is normally distributed, with a mean of 8 pizzas and a standard deviation of 2.5 pizzas....
-
Concord Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date Number of Units Unit Cost May 7 July 28 45 30 $13 15 On June 1, Concord sold...
-
The accounts of Grand Pool Service, Inc., follow with their normal balances at April 30, 2021. The accounts are listed in no particular order. (Click the icon to view the accounts.) Read the...
-
What kind of leader do you aspire to be and what are the traits? Explain.
Study smarter with the SolutionInn App