The probability of finishing on schedule

Reference no: EM13942146

The project described in the following table has just begun. It is scheduled to be completed in 12 weeks.

UseTable B1andTable B2.

Activity Estimated Time
(weeks) Standard
Deviation (wks.)
1-2 4 0.78
2-4 4 0.88
1-3 5 0.51
3-4 9 1.95

a. If you were the manager of this project, would you be concerned?(Round "Probability" valuesto 4 decimal places, intermediate calculations and final answers to 2 decimal places.)

(Click to select)Yes No because the probability of finishing on schedule is only about.

b. If there is a penalty of $5,000 a week for each week the project is late, what is the probability of incurring a penalty of at least $5,000?(Round "Probability" valuesto 4 decimal places, intermediate calculations and final answers to 2 decimal places.)

Reference no: EM13942146

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