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Refer to the previous question. Create a spreadsheet model to simulate the completion times for the auditing project. Assume that activity times follow a triangular distribution and perform 500 replications on the model.

a. Estimate the probability of each activity falling on the critical path. Which activities are most critical?

b. On average, how long should it take to complete the project?

c. Based on your simulation results, estimate the probability that it will take at least 67 days to complete the project?

a. Estimate the probability of each activity falling on the critical path. Which activities are most critical?

b. On average, how long should it take to complete the project?

c. Based on your simulation results, estimate the probability that it will take at least 67 days to complete the project?

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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