QUESTION 2:i)At an estimation meeting, the effort estimates for task x was recorded from all presentas follows.ResourceEstimate (day)1.Boris JohnsonFumio Kishida42.43.Ismail Sabri Yaakob4.Joe Biden4Lee Hsien LoongMia Mottley7.5.46.3.5Narendra Modi48.Pedro Sánchez7.59.Scott Morrison410.Vladimir Putin3.511. Xi Jinping3.5Assume that it is not known at this time who will be assigned to work on this task,calculate the effort needed for this task.ii) Interpret the difference between the standard deviation for a triangular versus a PERTestimate and provide your justification for your answer.

Here, I could determine the estimated effort needed for the task using PERT distribution and…

Answered: Assume that it is not known at this…

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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How can we monitor and control forecast in our interior designing business. Please provide with a relative example
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Scenario 3: Kohl’s Department Store has experienced steady growth in every department over the past decade. Sales and market share continue to grow but Kohl’s wants to know the level of customer satisfaction among its existing target market. In addition, the company would like to know how to continue to expand sales over the upcoming decade and would like to know how they could better serve customers within their stores and online. Using any form of a Likert scale, create a questionnaire with a minimum of 10 questions that Kohl’s current customers could answer:
Period (t) Enrollment (1000s) 1 6.5 2 8.1 3 8.4 4 10.2 5 12.5 6 13.3 7 13.7 8 17.2 9 18.1 Develop a linear regression with a dependent variable of “Enrollment (1000s). A.What is the value of R square? (Make sure two decimal places.) B.What is the value of intercept? (Make sure two decimal places.) C.What is the coefficient value of Period (t)? (Make sure two decimal places.) D.Is the coefficient of Period (t) significant? (Yes:1, No: 0) E.What is the forecast for year 10?
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Part C
Week 1 2 4 Forecast Method 1 0.90 1.05 0.97 1.22 Actual Demand 0.72 1.05 1.00 0.97 Week 1 2 3 4 Forecast Method 2 0.82 1.19 0.90 1.17 Actual Demand 0.72 1.05 1.00 0.97 0 The MAD for Method 1 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = thousand gallons (round your response to three decimal places). The MAD for Method 2 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
Below is data of lobster sales volume from a seafood company. We are using exponential smoothing (α = 0.5) and 3-year moving average to forecast it. a. Please fill the blanks above and write your processes below. b. What are the mean absolute deviations (MADs) of the two methods? Whichmethod will you choose based on the results? *Please solve for a-b and type or write all your work/steps and answers on paper* NO EXCEL, thank you
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Assume that it is not known at this time who will be assigned to work on this task, calculate the effort needed for this task. ii) Interpret the difference between the standard deviation for a triangular versus a PERT estimate and provide your justification for your answer.