Problem 9-17 (Algorithmic) The Porsche Shop. founded in 1935 by Dale Jensen: specializes in the restoration of vintage Porsche automobiles One of Jensen's reguiar customers asked him to prepare an estimate for the restoration of a 1964 model 3565C Porsche To estimate the time and cost to perform such a restoration, Jensen broke the restoration process into four separate activities: disassembly' and initial preparation work (N. body restoration (B), engine restoration (C), and final assembiv (D). Once activity A has been completed, activities B and C can he performed independentiv of each other; however, activity D (an be started only if both activities B and C have been completed Based on his inspection of the car, Jensen believes that the following time estimates (in days] are applicahie: Activity Optimistic Most Probable Pessimistic A 3 4 8 B 5 8 11 C l 4 7 > D 4 6 14 Jensen estimates that the parts needed to restore the body will cost $4000 and that the parts needed to restore the engine will cost 55-300 His current Labor costs are $500 a dav. 3. Which project network is correct? m E (ii) f a Sign A D 4b th 5m pi A D r Funsh \\J c c (iii) 13 (iv) B 1' (T Start A D > Funsh gran pi A D b Funsh c \\ C Network iii! v J . What is the expected project completion tirne'r' Critical Path: A-B-D v J If required, round your answer to one decimal place. Expected tirne : 19.5 v/ days .Jensen's business philosophy is based on making decisions using a best- and worst-case scenario Develop cost estimates for completing the restoration based on both a best and worst-case analysis. Assume that the total restoration (ost is the sum of the labor cost plus the material cost. If required, round non-monetary answers to the nearest whole number If required, round monetary answers to the nearest dollar. Best Case (Optimistic Times] = 13.5 X days Total Cost : $ Worst Case (Pessimistic Times] = Total Cost = $ . If Jensen obtains the job with a bid that is based on the costs associated with an expected completion time, what is the probability that he will lose money on the job? It required, round your answer to the nearest dollar. X days Bid Cost = s If required, round your answer to two decimal places. The probability is 16,808 X . If Jensen obtains the job based on a bid of $20,500, what is the probability that he will lose money on the job? Note: Use Appendix B to identity the areas for the standard normal distribution. If required. round your answer to four decimal places. The probability of a loss is