QUESTION $3$

$3\mathrm{.}1$ Discuss ways in which a retailer such as Checkers supermarket should manage

and monitor their inventory.

$3\mathrm{.}2$ To build a composite deck, the following eight $(8)$ major activities are undertaken.

The activities have been labelled $A$ to $H.$ The activities' optimistic, pessimistic and

most likely times $($in weeks$)$ as well as their predecessors are shown in the table

below.

$3\mathrm{.}2\mathrm{.}1$ Determine the expected time and the variance of each project activity.

Convert the expected time to the nearest whole number

$3\mathrm{.}2\mathrm{.}2$ Determine the critical path and completion time of the project.

$3\mathrm{.}2\mathrm{.}3$ Determine the project standard deviation.

$3\mathrm{.}2\mathrm{.}4$ What is the probability that the project will be completed two weeks before

the project completion time?