Question: Reconsider Prob. 10.4-3, which involves trying to find the probability that a project will be completed by the deadline. Assume now that the duration of

Reconsider Prob. 10.4-3, which involves trying to find the probability that a project will be completed by the deadline.

Assume now that the duration of each activity has a triangular distribution that is based on the three estimates in the manner depicted in Fig. 22.10. Obtain a close estimate of the probability of meeting the deadline by performing 1,000 iterations of a simulation of the project on a spreadsheet. Generate the various available kinds of outputs similar to Fig. 22.12.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Introduction To Operations Research Questions!

J.C Penny has the following current assets (in millions): cash $4,888, receivables $1,000 and inventory $5,812. Its current liabilities (in millions) were $8,000. The quick ratio is Multiple Choice...

Question 1. (20 points) A project requires an initial investment of $225,000 and is expected to generate the following net cash inflows: Year 1: $95,000 Year 2: $80,000 Year 3: $60,000 Year 4:...

1) A company is trying to improve the existing safety regulations and ordered new equipment to change the existing machinery with a safer one. In order to implement the changes a project will be...

A company is trying to improve the existing safety regulations and ordered new equipments to change the existing machinery with a safer one. In order to implement the changes a project will be...

Question 1. (20 points) A project requires an initial investment of $260,000 and is expected to generate the following net cash inflows: Year 1: $95,000 Year 2: $90,000 Year 3: $85,000 Year 4:...

Question J. (30 points) A company is trying to improve the existing safety regulations and ordered new equipment to change the existing machinery with a safer one. In order to implement the changes a...

A company is trying to improve the existing safety regulations and ordered new equipments to change the existing machinery with a safer one. In order to implement the changes a project will be...

Consider Problem 16.12 (see Chapter 16 on the CDROM), which involves estimating both the duration of a project and the probability that it will be completed by the deadline. Assume now that the...

In A small project involves 7 activities and their time estimates are listed in the following 1 4 table: DURATION ( Weeks ) Ls Setivity ( I - f ) Optimistie Most Ukely Peselmistle 7 1 - 2 4 1 - 3 1 -...

Please refer to the table below and answer all the questions. Begin your answers from the next page Activity Optimistic Most Likely Pessimistic predecessor A 2 4 8 - B 2 2 2 - C 1 5 7 A D 4 5 6 A E 3...

This quiz consists of 60 Multiple Choice-Questions (MCQs). 1. The chances of a risk event occurring as a project proceeds through its life cycle tend to A. Slowly rise B. Drop sharply and then level...

Empirical evidence indicates the mutual funds that have abnormal returns in a given year are successful in attracting abnormally large numbers of new investors the following year. Is this consistent...

How can one tell whether two firms are engaging in an alliance to facilitate collusion or are engaging in an alliance for other purposes?

2 0 points eBook Print References Check my workCheck My Work button is now disabled Item 4 Last year s contribution format income statement for Huerra Company is given below: TotalUnitSales$ 9 9 0 ,...

Menu-driven interfaces, although older than GUI interfaces, are still very common. What type of user dialogue strategy does a menu-driven interface employ? What is the main difference between...

Reconsider the Goferbroke Co. prototype example, including the application of utilities in Sec. 16.6. The owner now has decided that, given the companys precarious financial situation, he needs to...

You live in an area that has a possibility of incurring a massive earthquake, so you are considering buying earthquake insurance on your home at an annual cost of $180. The probability of an...

For your graduation present from college, your parents are offering you your choice of two alternatives. The first alternative is to give you a money gift of $19,000. The second alternative is to...

omprehensive Problem Saved Help Save & Er Gold Nest Company of Guandong, China, is a family-owned enterprise that makes birdcages for the South China market. The company sells its birdcages through...

Exercise 3-15A (Algo) Single-step and multistep income statements LO 3-6 The following information was taken from the accounts of Green Market, a delicatessen, at December 31, Year 2. The accounts...

Brady Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project's life are: Year Net Annual Cash Flow 1 $ 15,000 2 8,000 3 3,000 4...