Question: Given a Project with the following information: Activity Standard Deviation Critical Path? Duration (weeks) a 2 yes 5 b 1 3 c 2 4 d
- Given a Project with the following information:
| Activity | Standard Deviation | Critical Path? | Duration (weeks) |
| a | 2 | yes | 5 |
| b | 1 |
| 3 |
| c | 2 |
| 4 |
| d | 3 | yes | 3 |
| e | 1 | yes | 2 |
| f | 2 |
| 6 |
| g | 2 |
| 3 |
| h | 3 | yes | 4 |
Find:
- Critical Path
- Number of Weeks project duration
- The probability of completing this project in 12 weeks (or less)
- The probability of completing this project in 17 weeks (or less)
- The number of weeks required to assure a 98% chance of completion
If you will receive a bonus of $125,000 if this project is completed within 15 weeks and be fined a penalty of $50,000 if the project takes longer than 19 weeks should you bid the job? Please show quantitative support for your answer.
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