Homework Help is Here – Start Your Trial Now!
Business
Operations Management
The following table represents a plan for a project TIMES (DAYS) 308 NO. PREDECESSOR 308 (5) b. Indicate the critical path Ⓒ1-4-7-10-11 Ⓒ1-2-5-8-9-11 01-3-6-8-9-11 c. What is the expected completion time for the project? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected completion time d. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any? 1. Reduce job 5 by two days. O Yes O No 2. Reduce job 3 by two days. O Yes O No days 3. Reduce job 7 by two days. O Yes O No

The following table represents a plan for a project TIMES (DAYS) 308 NO. PREDECESSOR 308 (5) b. Indicate the critical path Ⓒ1-4-7-10-11 Ⓒ1-2-5-8-9-11 01-3-6-8-9-11 c. What is the expected completion time for the project? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected completion time d. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any? 1. Reduce job 5 by two days. O Yes O No 2. Reduce job 3 by two days. O Yes O No days 3. Reduce job 7 by two days. O Yes O No

Practical Management Science
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...
See similar textbooks
icon
Related questions
Question
The following table represents a plan for a project TIMES (DAYS) 308 NO. PREDECESSOR 308 (5) b. Indicate the critical path Ⓒ1-4-7-10-11 O 1-2-5-8-9-11 01-3-6-8-9-11 9, 20 Expected completion time O Yes O No 12 c. What is the expected completion time for the project? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 12 $7 Probability d. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any? 1. Reduce job 5 by two days. 2. Reduce job 3 by two days. Ⓒ Yes O No 3. Reduce job 7 by two days. Ⓒ Yes O No days e. What is the probability that the project will take more than 30 days to complete? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Other than the expected completion time you entered in part c above, do not round intermediate calculations. Round "2" value to 2 decimal places your final answer to 4 decimal places.)
Transcribed Image Text:The following table represents a plan for a project TIMES (DAYS) 308 NO. PREDECESSOR 308 (5) b. Indicate the critical path Ⓒ1-4-7-10-11 O 1-2-5-8-9-11 01-3-6-8-9-11 9, 20 Expected completion time O Yes O No 12 c. What is the expected completion time for the project? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 12 $7 Probability d. You can accomplish any one of the following at an additional cost of $1,500. If you will save $1,000 for each day that the earliest completion time is reduced, which of the following actions should be taken, if any? 1. Reduce job 5 by two days. 2. Reduce job 3 by two days. Ⓒ Yes O No 3. Reduce job 7 by two days. Ⓒ Yes O No days e. What is the probability that the project will take more than 30 days to complete? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Other than the expected completion time you entered in part c above, do not round intermediate calculations. Round "2" value to 2 decimal places your final answer to 4 decimal places.)
Expert Solution
Step 1; Explanation

A network diagram is a graphical representation of project which helps to identify the activity relationship using nodes and arrows. The calculation would be like given below. 

We allowed to solve first three subparts only. please post the last part again. 

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS