Activities/Assessments:Activity 5The following table represents sales data for milk (in hundred liters) sold by a grocery.Do the computations to fill out the table and answer the following questions:1. Using MAD as the criterion, which of the following models would you use for thegiven time series data? Why?A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with a = 0.5 and a forecast of 3,500 liters in the first month.NOTE: In answering Item 1, mention the whole description of the model; i.e., not just"SMA model", but "SMA model with n = ..."; not just "WMA model", but "WMA modelwith weights ..."; not just "ES model", but "ES model with a = ...".2. Interpret the MAD of the most accurate among the forecasting models above.3. Based on your decision in Item 1, what should be the forecast for Month 11?ActualDemandMonth 100 liters39100 litersSMAA-FNAWMAESFJA - F|FF|A- F|F|A- F|247339444496.48458.569.53106111MAD

The term "forecasting" describes the process of speculating on what will occur in the future based…

Answered: 1. Using MAD as the criterion, which of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Follow up to previous question: 3) A company decides to plan a project, with activities, precedences and random duration statistics given in the following table: Activity Immediate Predecessors Duration Minimum (weeks) Duration Mode (weeks) Duration Maximum (weeks) A none 2 5 9 B A 1 6 8 C A 3 5 12 D B 2 4 12 E B, C 4 6 8 F B 6 7 8 G D, E 1 2 6 H F, G 4 6 16 Questions: 1) What method should be used? Compute the mean and variances for each activity and add them to the table above. 2)Draw the project network and label the arcs with the activity name. 3) Assuming that the critical path is AàBàP1àEàGàH, compute the probability that this path duration is between 28 weeks and 32 weeks. 4) Assuming that the critical path is AàBàP1àEàGàH, compute the number of weeks within which the project will be completed with probability 0.95.
An electronic contractor is examining the amount of time his crews take to complete wiring jobs. Some crews take longer than others. For an upcoming job, a list of activities and their optimistic, most likely, and pessimistic completion times are given in the following table. Days Activity a m b Immediate Predecessors A 2 5 8 - B 1 3 5 - C 1 2 3 - D 5 6 7 C E 1 3 5 B, D F 5 9 13 A, E G 1 2 3 A, E H 2 5 8 F I 9 10 11 G J 13 15 20 G K 4 7 10 H, I a) Develop a project network for this problem. b) Determine the expected duration and variance for each activity. c) Determine the EST, EFT, LST, LFT, and slack for each activity. d) What is the critical path and project completion time? e) What is the probability that the job will finish in 33 days or less? f) Submit your excel file
An electronic contractor is examining the amount of time his crews take to complete wiring jobs. Some crews take longer than others. For an upcoming job, a list of activities and their optimistic, most likely, and pessimistic completion times are given in the following table. Days Activity a m b Immediate Predecessors A 2 5 8 - B 1 3 5 - C 1 2 3 - D 5 6 7 C E 1 3 5 B, D F 5 9 13 A, E G 1 2 3 A, E H 2 5 8 F I 9 10 11 G J 13 15 20 G K 4 7 10 H, I a) Develop a project network for this problem. b) What is the critical path and project completion time? c) What is the probability that the job will finish in 33 days or less?
An electronic contractor is examining the amount of time his crews take to complete wiring jobs. Some crews take longer than others. For an upcoming job, a list of activities and their optimistic, most likely, and pessimistic completion times are given in the following table. Days Activity a m b Immediate Predecessors A 2 5 8 - B 1 3 5 - C 1 2 3 - D 5 6 7 C E 1 3 5 B, D F 5 9 13 A, E G 1 2 3 A, E H 2 5 8 F I 9 10 11 G J 13 15 20 G K 4 7 10 H, I Use excel to answer the following; a) Develop a project network for this problem. b) Determine the expected duration and variance for each activity. c) Determine the EST, EFT, LST, LFT, and slack for each activity.
An electronic contractor is examining the amount of time his crews take to complete wiring jobs. Some crews take longer than others. For an upcoming job, a list of activities and their optimistic, most likely, and pessimistic completion times are given in the following table. Days Activity a m b Immediate Predecessors A 2 5 8 - B 1 3 5 - C 1 2 3 - D 5 6 7 C E 1 3 5 B, D F 5 9 13 A, E G 1 2 3 A, E H 2 5 8 F I 9 10 11 G J 13 15 20 G K 4 7 10 H, I a) Develop a project network for this problem. b) Determine the expected duration and variance for each activity. c) Determine the EST, EFT, LST, LFT, and slack for each activity. d) What is the critical path and project completion time? e) What is the probability that the job will finish in 33 days or less?
Jordanne King, the project manager for Webjets International, Inc., compiled a table showing time estimates for each of the activities of a project to upgrade the company’s Web page, including optimistic, most likely, and pessimistic.a. Calculate the expected time, te, for each activity.b. Calculate the variance, s2, for each activity.Activity Optimistic (days) Most Likely (days) Pessimistic (days)A 3 8 19B 12 15 18C 2 6 16D 4 9 20E 1 4 7
8. Dave Fletcher was able to determine the activity times for constructing his laser scanning machine. Fletcher would like to determine ES, EF, LS, LF, and slack for each activity. The total project completion time and the critical path should also be determined. Here are the activity times: Activity Time (weeks) Immediate Predecessor(s) Activity Time (weeks) Immediate Predecessor(s) A 7 − E 4 B B 6 − F 5 B C 4 A G 11 C, E D 2 A H 8 D , F Part 2 Dave's earliest start (ES) and earliest finish (EF) are: Activity ES EF A ___ 7 Activity ES EF B ____ Activity ES EF C _____ Activity ES EF D ___ Activity ES EF E ___ Activity ES EF F __ Activity ES EF G ____…
Week 6 Status Report When reporting on the progress and status of a project, your Stakeholders want to know what potential pitfalls or obstacles you have identified, and what your plan is for dealing with them. Toward that end, this week, you are to add an additional section to your Status report. The new section should look as follows: Open Risk Probability Impact Response Type Response Plan Identify at least two "risks" that could impact your ability to complete this week's assignments, and complete the table. These are NOT risks pertaining to the Running Case - they should be things which might impact YOU this week and cause your work to be late. (You can make some up if you honestly don't have any...) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
quetion 1 a)What is a burn-down chart? What purpose does it serve? b)Why should a project manager be concerned with monitoring a project’s progress? c) Describe how the SPI and CPI can be used to forecast the final cost of a project?
Calculate the expected time for the activities in Table 1. The answer should be formatted with two decimals. Activity Best Time Probable Time Worst Time Expected Time A 4 8 10 B 5 8 11 C 3 5 7 D 5 9 12 E 2 5 8
Describe the computation of mean activity times and activity variance in probabilistic CPM/PERT analysis. 2. Which method for determining activity time estimates, deterministic or probabilistic is preferable? Explain. 3. Explain how a Gantt chart differs from a CPM/PERT network. What advantages does CPM/PERT have? 4. Describe the limitations and disadvantages of CPM/PERT. 5. Identify and briefly describe the major elements of project management.
What is the relationship between the earliest start time (EST) of an activity and the earliest completion time (ECT) of the activity? a. EST + Activity time = ECT b. EST × Activity time = ECTc. EST = ECT d. None of these statements is correct.

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