Question: A project team has a construction plan containing activities with uncertain durations, including precedence constraints. After running a simulation of this plan 50 times, the

A project team has a construction plan containing activities with uncertain durations, including precedence constraints. After running a simulation of this plan 50 times, the mean duration was found to be 200 days, and the standard deviation was found to be 10 days. Can we say, with 95% confidence, that the true mean duration is not 205 days? What about with 99% confidence? Please justify your answers

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 General Management Questions!

Questions: #6A:Realism of recommendations for Target which of the author's recommendations are realistic for a company like Target? #6B: Comparison with Trinity In a general sense, how does the...

OPERATIONS MANAGEMENT ASSIGNMENT 6 1 Human resources, project management and operations management are all equally vital to a business's success. Each of these focuses on different areas of the...

General Aviation Hangar Restoration Read the following case to answer the following questions. 1. Describe the nature of the project, and its key objectives. 2. Define \"Dummy Activities\" and...

According to these information please build a Gantt chart in excel to schedule all 73 task of the film. the timing and date can not conflicting with each other. Please help me. Native Sun You are an...

Due Week 4: Work Breakdown Structure According to the PMBOK Guide, "the WBS is a deliverableoriented hierarchical decomposition of the work to be executed by the project team, to accomplish the...

Overview The Critical Path Method uses the network diagrams familiar to users of PERT, and through the defined task relationships and estimated task duration, calculates the least possible time in...

According to the PMBOK Guide, "the WBS is a deliverable-oriented hierarchical decomposition of the work to be executed by the project team, to accomplish the project objectives and create the...

Objective This Course Project gives you the opportunity to practice by planning a project, from the onset with a project charter to an established project schedule and related artifacts. This Course...

Using the case study below: Analyse the project from your own perspective as an up-and-coming project manager Devise a Schedule Project Management Plan and Cost Project Management Plan based on the...

Selected data taken from the accounting records of Floral Escape, Inc., for the current year ended December 31 are as follows: During the current year, the cost of merchandise sold was $450,000, and...

During the end-of-period physical inventory count some of the inventory was not counted. This caused ending inventory to be understated (too low) by $18,000. If the company uses the periodic...

9.4 Part (a) of this exercise is also Exercise 1.6. Using Case Study 1.6 on pages 56 as an example: a. Explain the difference between a population and a sample. b. Use the proportion of placebo...

Outline how you would use a structured hazard management approach to identify, assess, and mitigate risks to ensure the safety of staff and patients in the hospital?

Many men as well as women are committed to ending violence against women. To learn more about men who are committed to stopping violence, go to the books online resources for this chapter and click...

To what extent are long-term romantic relationships equitable for women and men?

Some societies have more rigid lines for class membership than the United States does. One of the most rigid systems is the caste system in India. To learn about how a persons caste affects his or...