Title 1 Normal 1 No Spac... Heading 1 Heading 2 AEE Paragraph Styles predecessor relationships in the following table for building new motels. Draw the AOA network and answer the questions that follow. Activity 24 B D E F G H 1 Immediate Time Estimates (in weeks) Predecessor Optimistic Most likely Pessimistic s) 4 8 10 2 8 A 8 12 16 4 6 10 B 1 2 3 EC 6 8 20 E, C 2 3 4 F 2 2 2 F 6 6 6 D,G,H 4 6 12 1, 2 2 3 K a) What is the expected (estimated) time for activity C? b) What is the variance for activity C? c) Based on the calculation of estimated times, what is the critical path? d) What is the estimated time of the critical path? e) What is the activity variance along the critical path? f) What is the probability of completion of the project before week 36? D Focus o r Problem 2 Alternatives Small facility Moderate facility Large facility Low demand (0.3) $8 4 (2) Possible Future Payoff Moderate demand (0.4} $8 10 6 High demand (0.3) $8 10 16 a) From the information in the above payoff table, determine the minimum Expected Opportunity Loss (EOL). b) Based on your solution in (a) above, what is the Expected Value of Perfect Information (EVPI)? c) Determine EVPI by using the following formula: EVPI = EVwith perfect information - EMV Where EV denotes Expected Value and EMV demotes Expected Monitory Value Note: In (c), show how you obtain the value for EVyith perfect information and the value for EMV