COURSE Quantitative Methods

QUESTION 1 a. Calculate the earliest start, earliest finish, latest start, latest finish, and slack times for each activity. Display results in a table format. [4 Marks] b. Calculate the critical path. [2 Marks] c. What is the total time required to complete the project if no delays occur? [2 Marks] Dell Eatery employs one worker whose job it is to load apple pies on outgoing company cars. Cars arrive at the loading gate at an average of 48 per day, or 6 per hour, according to a Poisson distribution. The worker loads them at a rate of 8 per hour, following approximately the exponential distribution in service times. a. Determine the operating characteristics of this loading gate problem. [6 Marks] b. What is the probability that there will be more than six cars either being loaded or waiting? [2 Marks] Formulae L= W=1 LqWqP0=()2=()==1 Pn>k=()k+1 QUESTION 3 The following data represent a set of demands that have occurred over the last several years at soapmaking company. The data have been collected on an annual basis. Use a. the simple average method b. the simple moving average method to predict the demand for the 7th year. QUESTION 4 A private school charges $60,000 per student per term. Variable cost is $5,000 per student. And the fixed cost for the year is $6,000,000. If the school currently has 1,500 students and there are three terms in a school year a) Write the formula for the total revenue 2 Marks b) Write the formula for the total cost 2 Marks c) How many students does the school need to break even? 4 Marks QUESTION 5 Studve the tahle helnw and nee it th ancured the muetinne that follnuv a) Calculate the EMV for each outcome 4 Marks b) Calculate the best outcome using the maximin criterion 2 Marks c) Calculate the best outcome using the maximax criterion 2 Marks