Use Excel to solve problems in exercise 1 and exercise 2. Make sure you label the different areas, columns, or rows within eachworksheet properly. The use of different colors and fonts also helps. Use the worksheet for any qualitative responses and feel free to use graphs when necessary.

1. Given the following German Autobahn repair project, find the probability of completion by 17 weeks and by 24 weeks using the traditional statistical approach.

Activity	Times (weeks)	Required Precedence
Optimistic	Most Likely	Pessimistic
A	5	11	11	-
B	10	10	10	-
C	2	5	8	-
D	1	7	13	A
E	4	4	10	B
F	4	7	10	B
G	2	2	2	B
H	0	6	6	C
I	2	8	14	G, H
J	1	4	7	D, E

If the firm can complete the project within 18 weeks, it will receive a bonus of ?10,000. But if the project is delayed beyond 22 weeks, it must pay a penalty of ?5,000. If the firm can choose whether or not to bid on this project, what should its decision be if this is normally only a breakeven project?

2. Given a network:

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