Question: The expected Time for the critical path on a PERT network is 18.2 weeks, and the critical path variance is 4. 1. The project was

The expected Time for the critical path on a PERT network is 18.2 weeks, and the critical path variance is 4.

1. The project was supposed to be done in 16 weeks. How do I find the probability that the project will be finished in or 16 weeks?

2. Suppose I can adjust the project to set a deadline so that 98% of the time, it would be on time. How do I find the deadline required to reach that level?

3. Ignoring 1 and 2, use original numbers of 18.2 weeks expected time and Variance of 4. The company will pay $100,000 fine if project is not done in 21 weeks. How much would the ocmpany be willing to pay (in terms of insurancE) given their chances of having to pay that $100,000 fine?

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