Determine the probability that the project will finish

Assignment Help Basic Statistics

Reference no: EM131596815

Assignment

A plant engineering group needs to set up an assembly line to produce a new product. The following table describes the relationships between the activities that need to be completed for this product to be manufactured:

Activity	Days			Immediate Predecessors
Activity	a	m	b	Immediate Predecessors
A	3	6	8
B	5	8	10	A
C	5	6	8	A
D	1	2	4	B, C
E	7	11	17	D
F	7	9	12	D
G	6	8	9	D
H	3	4	7	F, G
I	3	5	7	E, F, H

Assume that each activity time is normally distributed with expected time and standard deviation computed as shown in equations 7-6 and 7-8, respectively, on page 283. Round off all activity times to two decimal places.

a) Use a Monte Carlo simulation to determine the probability that the project will finish in 37 days or less.

b) Use a Monte Carlo simulation to determine the probability that the project will take more than 32 days.

Reference no: EM131596815

Questions Cloud

What cost should be assigned to the land : What cost should be assigned to the land, buildings, and equipment, respectively

How can you best describe jasons attitude toward risk : How can you best describe Jason's attitude toward risk? Justify your answer. Will the use of utilities affect Jason's original decision?

What is the difference in equivalent uniform annual cost : what is the difference in the equivalent uniform annual cost (EUAC) of buying Machine B compared to continuing to use Machine A;

What is alicia allowable casualty loss deduction : Alicia was partially insured for the loss and in 2016 she received a $100,000 insurance settlement. What is Alicia's allowable casualty loss deduction for 2016

Determine the probability that the project will finish : Use a Monte Carlo simulation to determine the probability that the project will finish in 37 days or less.

Demonstrate accurate spelling-grammar and punctuation : Information is data that is framed in a specific context. In this sense, information is contextual data that has a level of inherent value.

What would be his allowable medical expense deduction : If he were to itemize his deductions, what would be his allowable medical expense deduction after the adjusted gross income limitation is taken into account

The npv of an independent project is positive : Which one of the following cannot occur if the NPV of an independent project is positive?

What is the cash flow for year four of the project : What is the cash flow for year 4 of the project if the equipment can be sold for $4,500 and the tax rate is 35 percent?

User Account

All Pages