What is the price at 75% confidence

Reference no: EM133662614

Assignment:

1. How many combinations of prices can we have with the four work packages given using the triangular distribution method?

A: (25 4(29) 36)/6 = 29.5 Work Package

B: (17 4(24) 28)/6 = 23.5 Work Package

C: (14 4(21) 35)/6 = 22.2 Work Package

D: (30 4(36) 40)/6 = 35.7

2. What is the most likely price (target price)?

(A) 24

(B) 21

(D) = $110,000.

3. What is the price at 75% confidence?

4. What would be the bid price, assuming 80% confidence and a profit of 10%?

5. Comment on the chances of the contractor winning this bid.

6. Repeat questions 1 to 5, assuming that the optimistic prices are 10% lower and the pessimistic prices are 10% higher.

7. What differences do you find when you compare your results from question 6 to what you had from previous questions? Please explain why.

Reference no: EM133662614

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