Question: 1. A project has three back to back activities that must be completed sequentially to complete the project. Let the activities be designated Job1, Job2,
1. A project has three back to back activities that must be completed sequentially to complete the project. Let the activities be designated Job1, Job2, and Job3. The times it takes to complete the jobs are normally distributed and their means and standard deviations are as follows (all times are in hours):
Job1: mean 7; standard deviation, 3
Job2: mean 24; standard deviation, 8
Job3: mean 36; standard deviation, 19
Workers at these jobs are paid at different rates, and those are as follows:
Job1: $15/hr
Job2: $34/hr
Job3: $38/hr
The mean cost of a single such project is = $_______
The standard deviation of a single such project is = $_______ (Round to TWO places of decimal)
If your company is to complete twenty-five such projects, then
The mean total cost of twenty- five project taken together is = $_______
The Standard of total twenty-five projects taken together is = $________ (Round to TWO places of decimal)
Could you please show the work as well!
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