Activity E has an optimistic time of 9 days, a most likely time of 12 days, and a pessimistic time of 15 days. Estimate its expected time and standard deviation.
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Activity E has an optimistic time of 9 days, a most likely time of 12 days, and a pessimistic time of 15 days. Estimate its expected time and standard deviation.
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- The new business venture, Best-In-World, has been manufacturing technology devices for over 2020 years and is considering adding a new technology device to its music line. They have an established reputation for building quality devices, but they are rather novice in the music industry. The Chief Innovation and Design Officer, Julie Naugle-Hall, is tasked with hiring a marketing firm to conduct a survey to determine the feasibility and demand for their new music device. The follow decision table illustrates the potential payoffs for a high demand, moderate demand and low demand for the new music device. The decision will be whether to start production on this new device in small scale, large scale or not at all.Decision Table State of Nature Alternatives High Demand Moderate Demand Low Demand Small-scale production 900,000900,000 300,000300,000 −400,000-400,000 Large-scale production 1,700,0001,700,000 700,000700,000 −1,000,000-1,000,000 No production 00 00 00…The new business venture, Best-In-World, has been manufacturing technology devices for over 2020 years and is considering adding a new technology device to its music line. They have an established reputation for building quality devices, but they are rather novice in the music industry. The Chief Innovation and Design Officer, Julie Naugle-Hall, is tasked with hiring a marketing firm to conduct a survey to determine the feasibility and demand for their new music device. The follow decision table illustrates the potential payoffs for a high demand, moderate demand and low demand for the new music device. The decision will be whether to start production on this new device in small scale, large scale or not at all.Decision Table State of Nature Alternatives High Demand Moderate Demand Low Demand Small-scale production 1,000,0001,000,000 300,000300,000 −200,000-200,000 Large-scale production 1,600,0001,600,000 700,000700,000 −1,000,000-1,000,000 No production 00 00 00…A company is willing to develop their rocket before the end of current financial year which is now 28 weeks away. The chief engineer of the company has decided to use PERT technique in order to plan, schedule and control program of development for the data given in table below. What is the probability that the program will be completed by the end of the current financial year? (all durations are in weeks). (i) G) Optimum Duration Most likely duration Pesimistic duration 1 2 3 8 13 3 2 8 4 3 8 10 4 7 10 3 6. 3 8 4 9 10 4 8. 4 9. 5 7 9. 12 6. 5 11 7 9. 14 8 4. 00 2.
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- PT ABC is responsible for planning and organizing sales management training program for the year of 2009. The planning for the event can be described with the table below Event Predecessor Event a (Optimistic) m (normal) b (pessimistic) A - 1.5 2.0 2.5 B A 2.0 2.5 6.0 C - 1.0 2.0 3.0 D C 1.5 2.0 2.5 E B;D 0.5 1.0 1.5 F E 1.0 2.0 3.0 G B;D 3.0 3.5 7.0 H G 3.0 4.0 5.0 I F;H 1.5 2.0 2.5 Questions : A) Specify the PERT Network for this project B) Specify the critical event and critical timeManager Cafe "Blue Sky" is considering investing 2 (two) projects. Project X is an investment of $ 75,000 to replace a working but outdated cooling equipment. Project Y is a $ 150,000 investment to expand the dining facilities. Relevant cash flow data for the two projects over the expected 2 years are as follows: Project X Year 1 Year 2 Probability Cash Flow Probability Cash Flow 0.16 $0 0.08 $0 0.66 $50000 0.82 $50000 0.18 $100000 0.10 $100000 Project Y Year 1 Year 2 Probability Cash Flow Probability Cash Flow 0.50 $0 0.13 $0 0.50 $200000 0.74 $100000 0.13 $200000 Calculate: Expected value, standard deviation, and coefficient of variation for cash flows from each project. Compute: Risk-adjusted NPV for each project using a cost of capital of 15% for riskier projects, and 12% cost of capital for less risky projects. Which project is more…White Valley Ski Resort is planning the ski lift operation for its new ski resort. Management is trying to determine whether one or two lifts will be necessary; each lift can accommodate 250 people per day. Skiing normally occurs in the 14-week period from December to April, during which the lift will operate seven days per week. The first lift will operate at 90 percent capacity if economic conditions are bad, the probability of which is believed to be about a 0.3. During normal times the first lift will be utilized at 100 percent capacity, and the excess crowd will provide 50 percent utilization of the second lift. The probability of normal times is 0.5. Finally, if times are really good, the probability of which is 0.2, the utilization of the second lift will increase to 90 percent. The equivalent annual cost of installing a new lift, recognizing the time value of money and the lift’s economic life, is $50,000. The annual cost of installing two lifts is only $90,000 if both are…
- Problem 4-11 (Algorithmic) Following is the payoff table for the Pittsburgh Development Corporation (PDC) Condominium Project. Amounts are in millions of dollars. State of Nature Decision Alternative Strong Demand S₁ Weak Demand S₂ Small complex, di 6 Medium complex, dz Large complex, d3 8 14 20 3 -8 Suppose PDC is optimistic about the potential for the luxury high-rise condominium complex and that this optimism leads to an initial subjective probability assessment of 0.78 that demand will be strong (S₁) and a corresponding probability of 0.22 that demand will be weak (S₂). Assume the decision alternative to build the large condominium complex was found to be optimal using the expected value approach. Also, a sensitivity analysis was conducted for the payoffs associated with this decision alternative. It was found that the large complex remained optimal as long as the payoff for the strong demand was greater than or equal to $17.1 million and as long as the payoff for the weak demand…Jamison Construction has implemented a cost estimation system using regression analysis. The variable cost per hour of labor is $35 and the fixed cost was determined to be $125,000. If Jamison projects it will be working 200,000 hours in 2019, what is the projected total cost?minco inc is a small manufaturer of fused magnesia and silica. Minco's continuous improvement efforts led to a capacity and production planning software. to prepare for the use of software, a spreadsheet was first used to determine the capacity requirements for the main equipment (the fusion furnances) and the production schedule for the main products. A major product had the following forecast and committed orders (all in thousand dollars): January Feburary Week 2 3 4 1 2 3 4 Forecast 56 56 56 66 66 66 66 Committed order 44 0 18 The initial inventory was 119,000 pounds and the minimum stock at the end week was to be 83,000 pounds. Calculate the economic production quantity (EPQ) if the annual demand is 3,000,000 pounds, setup cost is $350 per setup, inventory holding cost rate is 20 percent per year, unit cost is $2 per pound, demand rate is 500 pounds per hour, and production…