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. Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activitieslisted in the following table. Use Table B.ActivityA8FGHIEndInmediatePredecessorDFBHE, G, IDays24 days or less21 days or lessOptimisticS86.955TIME IN DAYSMost Likely6881266347ProbabilityPessimistic71111159Click here for the Excel Data File6. What is the probability that the project can be completed in 24 days or less? In 21 days or less? (Round your t, and z values to 2decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.)7758 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 percentcompleted. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine theprobability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3decimal places and final answers to 4 decimal places.)Day 24Day 21c. The partners have decided that shortening the project by two days would be beneficial. They have estimated the daily crashingcosts for each activity in thousands, as shown in the following table. Which activities should be crashed?ActivityCDEFProbabilityFirst Crash$8$10$9$7$8$7$6First Activity to CrashSecond Set of Activities to CrashSecond Crash$10$11$10$9$9$8$8A

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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