Managing a newproduct development process. Managers often have to oversee a series of related activities directed to a desired goal or output. As a newproduct development manager, you are responsible for two sequential steps of the product development processnamely, the development of product specifications followed by the design of the manufacturing process. LetXbe the number of weeks required to complete the development of product specifications, and letYbe the number of weeks required to complete the design of the manufacturing process. Based on experience, you estimate the following probability distribution for the first step:

Weeks(X) 1 2 3

Probability 0.3 0.5 0.2

For the second step, your estimated distribution is

Weeks(Y) 1 2 3 4 5

Probability 0.1 0.15 0.4 0.3 0.05

Calculate the mean completion time and mean cost for the two steps combined.

Report answers to two decimal places when necessary.