A construction company in London regularly participates in the bidding process for large scale construction projects in the capital. Over the last few years the company has enjoyed a stable success in being the lowest bidder, and hence undertaking the construction project. On average the company starts a new project every 6 months. The projects are, on average, completed in 4 years. 1.1 What is the average number of projects that the contracting company is working on at any given time? 1.2 The management team is currently considering expanding the operations of the company into other regions of the UK. This would result in the company starting a new project every 4 months. However, they don't want to increase the number of active projects at any given time, but rather take on shorter projects. How much shorter should the projects be to keep the average number of active projects the same as before?