b. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3 decimal places and final answers to 4 decimal places.) Day 24 Day 21 c. The partners have decided that shortening the project by two days would be beneficial. They have estimated the daily crashing costs for each activity in thousands, as shown in the following table. Which activities should be crashed? Activity COLEGIH D F First Crash $8 $10 $9 4343 Probability $7 $8 57 $6 Second Crash $10 $11 $10 $9 $9 $8 $8
b. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3 decimal places and final answers to 4 decimal places.) Day 24 Day 21 c. The partners have decided that shortening the project by two days would be beneficial. They have estimated the daily crashing costs for each activity in thousands, as shown in the following table. Which activities should be crashed? Activity COLEGIH D F First Crash $8 $10 $9 4343 Probability $7 $8 57 $6 Second Crash $10 $11 $10 $9 $9 $8 $8
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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VIEWStep 2: a. Determine the probability that the project can be completed in 24 days and 21 days or less:
VIEWStep 3: b. Determine the probability of finishing the project by day 24 and day 21:
VIEWStep 4: c. Determine the activities should be crashed:
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