Vhat is the probability that the project will be completed in 15 days if the standard deviation is 1.5?
Q: Analyse the sensitivity analysis and summarise the implications of the analysis for the project,…
A: In project management, sensitivity analysis is a strategy for estimating risk in any given task.…
Q: The greater percentage of the project budget is spent in which stage of the project life cycle?…
A: Operation management in an organization aims at providing the highest efficiency possible. It…
Q: What is the likelihood that the project described in the following table will be completed within 44…
A: In the answer below: a stands for optimistic time b stands for pessimistic time m stands for most…
Q: You have determined the following for a given project: Expected completion time of the…
A: Find the given details below: Given Details: Expected Completion time 40 weeks Standard…
Q: An effective project charter is written for experts in project management who can evaluate the…
A: An effective project charter is written for experts in project management who can evaluate the…
Q: a) What is the probability that the project can be completed in 25 days or fewer?
A: The expected activity time is the time taken by the particular activity to complete the project…
Q: the closest answer.
A: b. 15.8
Q: What is the value of the missing item labeled (a) in the table above? Round to the nearest integer.…
A: ANSWER IS AS BELOW:
Q: The expected finishing date for the project with 75% probability. * What is the probability of…
A: THE ANSWER IS AS BELOW:
Q: A completion time (X) is expected to be 52 weeks, with a variance of 64. What is the probability the…
A: This question is related to the topic - Project Management and this topic falls under Operations…
Q: 4- Standard Deviation Value For the critical path in the project is
A:
Q: Based on the table, identify the critical path and the expected project completion time. Is there…
A: The project completion time is the time taken by the the critical activities
Q: a. Determine the probability that the project will be completed within 23 days. b. Compute an…
A: THE ANSWER IS AS BELOW:
Q: The expected number of days to completion for a different project is E(x) = 3.32 The variance of…
A: Given: E(x)= 3.32 Var(x)= 1.22 Fixed cost= $83.783 Variable cost= $9.774 Project cost ( PC) =…
Q: Consider the following diagram, why is it used and explain what information does it provide to the…
A: The diagram is called the risk impact/probability chart. This diagram uses two dimensions;…
Q: Gabrielle Kramer, owner of Pet Paradise, is opening a new store in Columbus, Ohio. Her major concern…
A:
Q: MODELLING AND SIMULATION 1. Is it possible to conduct all the orientation activities in a single…
A: Modeling and simulation (M&S) is the utilization of models (e.g., physical, numerical, or…
Q: Our company, Dawgs “R” Us, is evaluating a new project involving the purchase of a new oven to bake…
A: To calculate the cash flows, NPV, and IRR of the new oven. Cash flows = Operating Cash flows -…
Q: Assuming that the project is performed by an outside contractor, what is the role of the customer's…
A: Modular design is basically to decompose complex systems into simple modules in order to more…
Q: Determine and state the critical path for this project. This must be based on your work in (c) and…
A: A network diagram related to the project shows the sequence of the task that is performed to…
Q: Find the total cost associated with the project as Data is given in Table 1)
A: Given that: Activity Expected Time Standard deviation Cost A 3 0.3 $2,000 B 2 0.5 $3,000…
Q: Expected length of a project is 37.16 days and the variance of its length is 6.14 days. What is the…
A: Project duration is the total time incurred to finish the project successfully in measured workdays.…
Q: 2. Below the data for a construction project is given. Activity Precedence A 8 14 11 B A 7 15 8 4 6…
A: Given data is
Q: You have determined the following for a given project: Expected completion time of the…
A: Find the Given details below: Given Details: Expected Completion time 26 weeks Standard…
Q: Earned Value Management (EVM) is a method or an approach in measuring the project performance…
A: The question is related to the Earned Value Management. The details are given.
Q: As a project manager if you have to develop the project in very short period, then which type of…
A: When considering the process of project management the project managers utilize predictive project…
Q: A 4-year financial project has net cash flows of $20,000; $25,000; $30,000; and $50,000 in the next…
A: Given data; Year Cash Inflows 1 20000 2 25000 3 30000 4 50000
Q: From the project plan, we that a project has a total budgeted cost of $918.485 and a project…
A: Given Information: The total budgeted cost=918485 The total project completion time=15 weeks At the…
Q: Determine the probability that the project will be completed in 23 weeks, 25 weeks and 27 weeks.
A: Here, The expected activity time or time estimate could be determined using the formula, (Optimistic…
Q: Draw CPM network of activities tabulated below: 1. Calculate the expected duration and the standard…
A: ANSWER IS AS BELOW
Q: Kirti and the team want to ascertain the expected activity time and the variance of activity zeta of…
A: The expected time is the estimated time of the activity taken to complete the whole project.
Q: Based on the case below, answer the following questions: The duration for the project is two year.…
A: The question is related to Project Management. The details are given.
Q: 1. A project was planned using PERT with three-time estimates. The expected completion time of the…
A: Given- Mean (x) = 40 weeks Desired completion time (μ) = 40 weeks Variance (σ2) = 9 weeks
Q: Describe three aspects of a project that might involve some degree of uncertainty
A: As we all know that there are various business and marketing organizations. Also, there are…
Q: Contract requirements state that a project must be completed within 180 working days, or it will…
A: Given, Standard Deviation = sqrt(400) = 20 Mean = 145
Q: b. The probability that the project will require more than 49 weeks. (Round intermediate…
A: A project schedule network represents the sequential and analytical connection between tasks in a…
Q: You have collected the data for a Time-Cost CPM Scheduling model analysis. The time is in days and…
A: Find the Given details below: Activity Predecessor Normal duration (NT) (Days) Normal cost (NC)…
Q: The amount of capital spent to get the project going a) Revenue b) Initial cost outlay c)…
A: ANSWER: OPTION (A) is the correct answer. REASON: Revenue is the addition of profit and cost that…
Q: 18) When there are multiple critical paths in a project: a. The risk is less as it divided between…
A: "Since you have asked multiple questions we will solve the first question for you. If you want any…
Q: [Project Management] Because a housing project is running late, the developer will need to complete…
A: Given Activity prior normal days crash days A - 9 9 B A 9 9 C B 14 12 D B 18 11 E…
Q: The following information has been computed from aproject:Expected total project time = T = 62…
A: Given: Expected total project time T or Mean(μ)= 62 weeks Project Variance (PV) = 81
Q: 4. If the contract for a project is 120 days, what is the chance (in percent) of meeting the…
A:
Q: How do we estimate the likelihood of a project being finished by a certain date? In this…
A: Project Evaluation and Review Technique (PERT) is a technique for evaluating and reviewing projects.…
Q: A project is of 18 months. It was evaluated at the end of 3rd month. The following figures were…
A: Given- Earned Value = $1.2 million = $1,200,000 Actual Cost = $1.05 million = $1,050,000Planned…
Q: A project’s budget was originally $100,000. The CPI is 1.2, and the project is already 40% along.…
A:
Q: Q2. In the above question, the completion times of the activities BD and DE are on average 6 hours…
A: The question is related to Crtical Path. The Path having the longest duration is Critical Path. In…
Q: Crash the project to 25 days. а. b. What will the total crashing cost be? с. What activities will be…
A: Project crashing is a method in project management to speed up the project time by reducing the…
Q: A project being analyzed by PERT has 60 activities, 13 of which are on the critical path. If the…
A:
Q: The closest value to the pessimistic project completion time is
A:
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- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.Lemingtons is trying to determine how many Jean Hudson dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with mean 400 and standard deviation 100. The contract between Jean Hudson and Lemingtons works as follows. At the beginning of the season, Lemingtons reserves x units of capacity. Lemingtons must take delivery for at least 0.8x dresses and can, if desired, take delivery on up to x dresses. Each dress sells for 160 and Hudson charges 50 per dress. If Lemingtons does not take delivery on all x dresses, it owes Hudson a 5 penalty for each unit of reserved capacity that is unused. For example, if Lemingtons orders 450 dresses and demand is for 400 dresses, Lemingtons will receive 400 dresses and owe Jean 400(50) + 50(5). How many units of capacity should Lemingtons reserve to maximize its expected profit?
- The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Can you guess the results of a sensitivity analysis on the initial inventory in the Pigskin model? See if your guess is correct by using SolverTable and allowing the initial inventory to vary from 0 to 10,000 in increments of 1000. Keep track of the values in the decision variable cells and the objective cell.The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. As indicated by the algebraic formulation of the Pigskin model, there is no real need to calculate inventory on hand after production and constrain it to be greater than or equal to demand. An alternative is to calculate ending inventory directly and constrain it to be nonnegative. Modify the current spreadsheet model to do this. (Delete rows 16 and 17, and calculate ending inventory appropriately. Then add an explicit non-negativity constraint on ending inventory.)The Pigskin Company produces footballs. Pigskin must decide how many footballs to produce each month. The company has decided to use a six-month planning horizon. The forecasted monthly demands for the next six months are 10,000, 15,000, 30,000, 35,000, 25,000, and 10,000. Pigskin wants to meet these demands on time, knowing that it currently has 5000 footballs in inventory and that it can use a given months production to help meet the demand for that month. (For simplicity, we assume that production occurs during the month, and demand occurs at the end of the month.) During each month there is enough production capacity to produce up to 30,000 footballs, and there is enough storage capacity to store up to 10,000 footballs at the end of the month, after demand has occurred. The forecasted production costs per football for the next six months are 12.50, 12.55, 12.70, 12.80, 12.85, and 12.95, respectively. The holding cost incurred per football held in inventory at the end of any month is 5% of the production cost for that month. (This cost includes the cost of storage and also the cost of money tied up in inventory.) The selling price for footballs is not considered relevant to the production decision because Pigskin will satisfy all customer demand exactly when it occursat whatever the selling price is. Therefore. Pigskin wants to determine the production schedule that minimizes the total production and holding costs. Modify the Pigskin model so that there are eight months in the planning horizon. You can make up reasonable values for any extra required data. Dont forget to modify range names. Then modify the model again so that there are only four months in the planning horizon. Do either of these modifications change the optima] production quantity in month 1?
- The Big Bang Novelty Company (BBNC) makes 3 types of noise?makers: Toot, Wheet, and Honk. A Toot can be made in 30 minutes and has a feather attached to it. A Wheet requires 20 minutes, has two feathers, and is sprinkled with 0.5 ounces of sequin powder. The Honk requires 30 minutes, three feathers, and 1 ounce of sequin powder. The unit profits are $0.45 per Toot, $0.55 per Wheet, and $0.70 per Honk. The following resources are available: 80 hours of labor, 360 feathers, and 90 ounces of sequin powder. BBNC would like to maximize the overall profit from the noise-makers. (a) Write the linear programming model. Express labor time in minutes in LP formulationb) Solve using Excel Solver. How much of the resources (labor, feathers, and sequin powder) will be used by the optimal solution? If the availability of labor increases by 10 hours, what is the optimal total profit? If the unit profit of Wheet is actually only $0.30 instead of $0.55, will this change the solution? How many of each…The cost data for Evencoat Paint for the year 2019 is as follows: Month Gallons ofPaintProduced EquipmentMaintenanceExpenses January 110,000 $70,700 February 68,000 66,800 March 71,000 67,000 April 77,000 68,100 May 95,000 69,200 June 101,000 70,300 July 125,000 70,400 August 95,000 68,900 September 95,000 69,500 October 89,000 68,600 November 128,000 72,800 December 122,000 71,450 A. Using the high-low method, express the company’s maintenance costs as an equation where x represents the gallons of paint produced. Then estimate the fixed and variable costs. Fixed cost $ Variable cost $The Big Bang Theory Assume the hours needed to cook a meal or done a basket of laundry are different, and they are described below: 1 MEAL 1 BASKET SHELDON 2 1 LEONARD 1/2 2 1. What is the maximum number of meals Sheldon can produce in 12 hours? What is the maximum number of laundry baskets Sheldon can complete in 12 hours? 2. Plot in a graph: Sheldon’s production possibility frontier. 3: Plot in a graph: Leonard’s production possibility frontier. 4. What is Sheldon’s opportunity cost of one meal (in terms of baskets given up)? What is his opportunity cost of one basket (in terms of meals given up)? 5. Does Leonard have an absolute advantage in producing both meals and baskets? 6. Who has a comparative advantage in cooking? 7. Suppose each person has 12 hours for the two tasks in a week, and suppose both Sheldon and Leonard each spend 6 hours on cooking and 6 hours on laundry. Consider an offer from Leonard to Sheldon: do 3 baskets of laundry for me each week, and I’ll cook you 2…