Question: Given the following financing project being considered by a venture firm, find the probability of completing the path with the longest expected duration by 1

Given the following financing project being considered by a venture firm, find the probability of completing the path with the longest expected duration by 17 weeks; by 24 weeks. By what date is management 90 percent sure that this path will be completed?
Time (weeks)
Activity9 Optimistic Most Likely Pessimistic
12: Collect firm data
5
11
11
13: Analyze data
10
10
10
14: Determine need
2
5
8
26: Determine profitability
1
7
13
36: Evaluate risk
4
4
10
37: Interview owners
4
7
10
35: Check references
2
2
2
45: Evaluate industry
0
6
6
57: Evaluate economy
2
8
14
67: Decide funding
1
4
7
If the venture firm can complete the project for the funder within 18 weeks, it will receive a bonus of $10,000. But if the project delays beyond 22 weeks, it must pay a penalty of $5,000 due to lost opportunity. If the firm can choose whether or not to bid on this project, what should its decision be if the project is only a breakeven one normally?

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