Question
In: Statistics and Probability
A project has five activities: A, B, C, and D, which must be carried out sequentially....
A project has five activities: A, B, C, and D, which must be carried out sequentially. The probability distributions of the number of weeks required to complete each of the activities A, B, and C are uniform in intervals [1,5], [2,3], and [3,6], respectively. The number of weeks required to complete activity D is a beta distribution with shape parameters a=2 and b=5, lower bound 2, and upper bound 10. Use simulation to forecast the total completion time of the project.
a. What are the mean and standard deviation of the total completion time?
b. What are the upper and lower bounds of a 95% confidence interval for the completion time?
c. What is the probability that the project will be completed within
Solutions
Expert Solution
for A to C column
for beta distribution
I generated Unif(0,1) in G column
then use BETA.INV(p, α, β , lower bound ,upper bound) for each p in G column
last Sum is A+ B+ C +D
then mean ,sd is calculate for sum
orchestra answered 1 year agoRelated Solutions
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Activity
Activity Time
(weeks)
Probability
A
5
0.32
6
0.39
7
0.27
8
0.02
B
4
0.18
6
0.51
8
0.31
C
7
0.10
9
0.29
11
0.43
13
0.15
15
0.03
D
10
0.61
12
0.39
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A project has four activities (A, B, C, and D) that must be
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required to complete each of the activities are as follows:
Activity
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3
0.29
4
0.38
5
0.29
6
0.04
B
7
0.22
9
0.53
11
0.25
C
9
0.05
11
0.24
13
0.36
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17
0.16
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