Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities
listed in the following table. Use Table B.
Activity
A
8
F
G
H
I
End
Inmediate
Predecessor
D
F
B
H
E, G, I
Days
24 days or less
21 days or less
Optimistic
S
8
6.
9
5
5
TIME IN DAYS
Most Likely
6
8
8
12
6
6
3
4
7
Probability
Pessimistic
7
11
11
15
9
Click here for the Excel Data File
6. 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 2
decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.)
7
7
5
8
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Transcribed Image Text:Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. Use Table B. Activity A 8 F G H I End Inmediate Predecessor D F B H E, G, I Days 24 days or less 21 days or less Optimistic S 8 6. 9 5 5 TIME IN DAYS Most Likely 6 8 8 12 6 6 3 4 7 Probability Pessimistic 7 11 11 15 9 Click here for the Excel Data File 6. 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 2 decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.) 7 7 5 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
C
D
E
F
Probability
First Crash
$8
$10
$9
$7
$8
$7
$6
First Activity to Crash
Second Set of Activities to Crash
Second Crash
$10
$11
$10
$9
$9
$8
$8
A
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Transcribed Image Text: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 C D E F Probability First Crash $8 $10 $9 $7 $8 $7 $6 First Activity to Crash Second Set of Activities to Crash Second Crash $10 $11 $10 $9 $9 $8 $8 A
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