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Your boss has asked you to work up a simulation model to examine the uncertainty regarding the success or failure of five different investment projects. He provides probabilities for the success of each project individually: p1=0.50, p2=0.35, p3=0.65, p4=0.58, p5=0.45. Because the projects are run by different people in different segments of the investment market, you both agree that it is reasonable to believe that, given these probabilities, the outcome of the projects are independent. He points out, however, that he really is not fully confident in these probabilities and that he could be off by as much as 0.05 in either direction on any given probability.
Now suppose he says that if he is optimistic about the success of one project, he is likely to be optimistic about the others as well. For you simulation, this means that if on probability increases, the others are likely to increase. How might you incorporate this information into your simulation?
Why is it necessary to compute the earned value of work performed Why is it necessary to track actual also committed costs once a project starts.
Pepsi uses six-sigma technique to evaluate whether its 15 oz Gatorade has consistent weight. Pepsi took a sampling of 1000 15 oz Gatorade and found out that the average weight was 15.12 oz with a standard deviation of 0.3 oz. Pepsi considers a to..
Calculate the ROI by dividing operational results by costs. The ROI gives an estimate of the dollar return expected from each dollar invested in training.
Marketing strategy consists of selecting a segment of the market as the company's target market and designing the proper marketing "mix" that meets the needs of that segment
You have been named the new safety officer for a metropolitan hospital. Your department manages all issues related to safety at the hospital. The hospital has recently experienced increasing bad outcomes and patient safety violations that are threate..
As people become more powerful they tend to become less goal-oriented, less motivated, and more focused on gaining additional power.
Given the volunteers you have, the other time estimates are item K (2 hrs), item L (1 hour) also item M (4 hrs). Develop a time-phased assembly plan to prepare the gift bags.
How proximity of supply chain partners could affect the SCOR model ?
Expando, Inc., is considering the possibility of building an additional factory that would produce a new addition to its product line. The company is currently considering two options.
What is the objective of critical path analysis? Explain why the critical path is the longest, not the shortest, path through a network.
What things must we keep in mind when writing an email versus speaking with someone face-to-face
Identify and discuss the trade offs associated with operating a supply chain that handles both forward and reverse movements as compared
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