Question: help Problem #1 Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and

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Problem #1 Many complex projects can be described as a series of stages where each stage represents a sub-project (e.g., the design, coding, and testing of a new IT product). This is especially true for new product development (NPD) projects, where a \"stage-gate\" or \"toll-gate\" can be used between stages to monitor the development process. In this problem, we consider a NPD project that consists of three stages: \\ Start . suas Stage |. >| Stage | nti End : > The duration of each stage is a random variable that is described by a discrete probability distribution as given below. Stage A Stage B Stage C Duration Probability | Duration Probability | Duration Probability 20 0.6 16 0.3 7 0.35 18 0.7 Expected duration a) What is the expected makespan of this project? b) What is the probability that the project will take at least 50 days to complete? c) Stage A was just completed in 24 days. Using this information, what is your updated estimate of the expected project makespan? d) What is your updated probability that the project will require at least 50 days to complete?|

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