Given the accompanying network diagram, with times shown in days. Use Table B1 and Table B2.

a. Determine the expected duration of the project. (Round intermediate calculations to 2 decimal places and final answer to 1 decimal place.)

Expected Duration            

b. Compute the probability that the project will take at least 18 days. (Round intermediate calculations to 2 decimal places and "Probability" values to 4 decimal places.)

Probability            

Chuck’s Custom Boats (CCB) builds luxury yachts to customer order. CCB has landed a contract with a mysterious New York lawyer (Mr. T). Relevant data are shown on the next page. The complication is that Mr. T wants delivery in 32 weeks or he will impose a penalty of $375 for each week his yacht is late. Note: No activity can be crashed more than two weeks.

Develop a crashing schedule. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. Use Table B.

b.What is the probability that the project can be completed in 24 days or less? In 21 days or less? (Round your t_e and z values to 2 decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.)

c. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3 decimal places and final answers to 4 decimal places.)

STORY HIGHLIGHTS

• Nurses continue to be rated the most honest and ethical
• Members of Congress, car salespeople get lowest ratings
• Ratings of bankers and business executives declined this year

Read and Summarize below article using APA format.

Americans Rate Nurses highest on Honesty, Ethical Standards.

WASHINGTON, D.C. -- In 2014, Americans say nurses have the highest honesty and ethical standards. Members of Congress and car salespeople were given the worst ratings among the 11 professions included in this year's poll. Eighty percent of Americans say nurses have "very high" or "high" standards of honesty and ethics, compared with a 7% rating for members of Congress and 8% for car salespeople.

Americans have been asked to rate the honesty and ethics of various professions annually since 1990, and periodically since 1976. Nurses have topped the list each year since they were first included in 1999, with the exception of 2001 when firefighters were included in response to their work during and after the 9/11 attacks. Since 2005, at least 80% of Americans have said nurses have high ethics and honesty. Two other medical professions -- medical doctors and pharmacists -- tie this year for second place at 65%, with police officers and clergy approaching 50%.

Historically, honesty and ethics ratings for members of Congress have generally not been positive, with the highest rating reaching 25% in 2001. Since 2009, Congress has ranked at or near the bottom of the list, usually tied with other poorly viewed professions like car salespeople and -- when they have been included -- lobbyists, telemarketers, HMO managers, stockbrokers and advertising practitioners.

Although members of Congress and car salespeople have similar percentages rating their honesty and ethics as "very high" or "high," members of Congress are much more likely to receive "low" or "very low" ratings (61%), compared with 45% for car salespeople. Last year, 66% of Americans rated Congress' honesty and ethics "low" or "very low," the worst Gallup has measured for any profession historically.

Other relatively poorly rated professions, including advertising practitioners, lawyers, business executives and bankers are more likely to receive "average" than "low" honesty and ethical ratings. So while several of these professions rank about as low as members of Congress in terms of having high ethics, they are less likely than members of Congress to be viewed as having low ethics.

No Professions Improved in Ratings of High Honesty, Ethics Since 2013

Since 2013, all professions either dropped or stayed the same in the percentage of Americans who said they have high honesty and ethics. The only profession to show a small increase was lawyers, and this rise was small (one percentage point) and within the margin of error. The largest drops were among police officers, pharmacists and business executives. But medical doctors, bankers and advertising practitioners also saw drops.

Honesty and ethics ratings of police dropped six percentage points since last year, driven down by many fewer nonwhite Americans saying the police have high honesty and ethical standards. The clergy's 47% rating last year marked the first year that less than 50% of Americans said the clergy had high ethical and honesty standards -- and the current 46% rating is, by one percentage point, the lowest Gallup has measured for that profession to date.

Bottom Line

Americans continue to rate those in medical professions as having higher honesty and ethical standards than those in most other professions. Nurses have consistently been the top-rated profession -- although doctors and pharmacists also receive high ratings, despite the drops since 2013 in the percentage of Americans who say they have high ethics. The high ratings of medical professions this year is significant after the Ebola outbreak which infected a number of medical professionals both in the U.S. and in West Africa.

At the other end of the spectrum, in recent years, members of Congress have sunk to the same depths as car salespeople and advertising practitioners. However, in one respect, Congress is even worse, given the historically high percentages rating its members' honesty and ethics as being "low" or "very low." And although November's dialectic elections did produce a significant change in membership for the new Congress that begins in January, there were also major shakeups in the 2006 and 2010 midterm elections with little improvement in the way Americans viewed the members who serve in that institution.

Previously in 2014, Gallup found that Americans continue to have low confidence in banks, and while Americans continue to have confidence in small businesses, big businesses do not earn a lot of confidence. This may be the result of Americans' views that bankers and business executives do not have high honesty and ethical standards, and the fact that their ratings dropped since last year.

Survey Methods

Results for this Gallup poll are based on telephone interviews conducted Dec. 8-11, 2014, with a random sample of 805 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia. For results based on the total sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level.

Each sample of national adults includes a minimum quota of 50% cellphone respondents and 50% landline respondents, with additional minimum quotas by time zone within region. Landline and cellular telephone numbers are selected using random-digit-dial methods.

A firm has the following production function Y=K^0.25L^0.25. Total cost (TC) is given by TC=w_LL+w_KK+ZC, where w_Land w_K are prices of the two inputs L and K, and ZC are costs that the firm has to pay regardless of production volume as long as it is operative.

a)Derive total cost as a function of output C(Y). Derive marginal cost MC and average cost AC.

b)Assume that the firm is one of many identical ones operating on a perfectly competitive market that is in long run equilibrium. ZC is 1800 and w_L and w_K are both equal to1. What are the price of the product and how much does each of the firms produce?

c)The same economy is inhabited by two different types of consumers. Type A consumers have the utility function U_A=yx, and Type B consumers U_B=[4ln⁡(yx)]³. y denotes how much the individual consumes of the good produced by the firms in a) and b) above and x represents consumption of another good. Both two types of consumers have an Income of I. State the demand function for good y for the two types of consumers.

d)

1. If there are 20.000 units of Y sold in equilibrium, the consumers earn an income of 1200 each, and the price of good x is 60, how many consumers are there in total if
   1. There are only type A consumers in the economy
   2. There are only type B consumers in the economy
   3. 50% of the consumers are of type A and 50 % of type B.

A firm has the following production function Y=K^0.25L^0.25. Total cost (TC) is given by TC=w_LL+w_KK+ZC, where w_L and w_K are prices of the two inputs L and K, and ZC are costs that the firm has to pay regardless of production volume as long as it is operative.

1. Derive total cost as a function of output C(Y). Derive marginal cost MC and average cost AC.
   
2. Assume that the firm is one of many identical ones operating on a perfectly competitive market that is in long run equilibrium. ZC is 1800 and w_L and w_K are both equal to 1. What are the price of the product and how much does each of the firms produce?
   
3. The same economy is inhabited by two different types of consumers. Type A consumers have the utility function U_A=yx, and Type B consumers U_B=[4ln⁡(yx)]³. y denotes how much the individual consumes of the good produced by the firms in a) and b) above and x represents consumption of another good. Both two types of consumers have an Income of I. State the demand function for good y for the two types of consumers.
   
4. If there are 20.000 units of Y sold in equilibrium, the consumers earn an income of 1200 each, and the price of good x is 60, how many consumers are there in total if
   1. There are only type A consumers in the economy
   2. There are only type B consumers in the economy
   3. 50% of the consumers are of type A and 50 % of type B.

​Intel's average cost in a given year falls with the quantity that it produces. In​ addition, extra production this year lowers the average cost curve next year. For​ example, in year​ 1,

AC=42

if quantity is 20 and

AC=30

if quantity is 60. If Intel produces 20 in year 1 and 40 in year​ 2, the average cost in year 2 will be

30.

​However, for every extra 10 units it produces in year​ 1, its AC for any given quantity in year 2 falls by

5​%.

What is the total cost and the average cost over the two years combined if the firm produces 20 in year 1 and 40 in year​ 2?

The total cost​ (C) is

C=​$20402040.

​(Enter your response rounded to two decimal​ places.)

The average cost​ (AC) is

AC=​$3434.

​(Enter your response rounded to two decimal​ places.)

What is the total cost and average cost over the two years combined if the firm produces 60 in year 1 and 40 in year​ 2?

The total cost​ (C) is

C=​$nothing.

​(Enter your response rounded to two decimal​ places.)

The average cost​ (AC) is

AC=​$nothing.

​(Enter your response rounded to two decimal​ places.)

Over the two years​ combined, what is the true additional cost of producing 60 instead of 20 in year​ 1?

The marginal cost of producing 60 units in year 1 instead of 20 is

Dr. Frankenstein relies on lightning strikes to power his resurrection machine. Lightning strikes his machine at a fairly consistent rate across all thunderstorms. The average number of strikes during a two-hour storm is 17. Further, each strike is roughly independent; that is, the probability of a strike is unrelated to how recently another strike occurred. If he needs at least seven strikes to generate enough energy to resurrect his monster, but his machine will overload and breakdown if it gets more than ten strikes.

What is the probability that, after a two-hour storm, he will be able to resurrect his monster? Assume that he waits until the storm ends before attempting to run the machine.

Fill in the empty cells in the following table in order to calculate the standard error of the estimate. 

Note: Sum in the last column is , which is SS_residual.

F. Use the formula and information on p.15 of the Week 12_3 slides. What is the value of the standard error of estimate?What is the value of the residual variance or error variance (MS_residual)? (2 decimals)  

= 2.85

MS_residual = 8.13

G. Use the correlation coefficient you have calculated and p.16 of the Week 12_3 slides. Calculate the coefficient of determination (r²) and interpret its meaning in one sentence. [2 marks]

r² = 0.800

. Fill in the empty cells in the following table in order to calculate the standard error of the estimate. 

Note: Sum in the last column is , which is SS_residual.

F. Use the formula and information on p.15 of the Week 12_3 slides. What is the value of the standard error of estimate?What is the value of the residual variance or error variance (MS_residual)? (2 decimals) 

= 2.85

MS_residual = 8.13

G. Use the correlation coefficient you have calculated and p.16 of the Week 12_3 slides. Calculate the coefficient of determination (r²) and interpret its meaning in one sentence.  

r² = 0.800

As the national government has increased its voiced approval for the HPV vaccine known as Gardasil, many organizations have begun gathering data to address the rise in prevalence of young girls receiving the vaccine. Last year, the National Center for Health Statistics estimated that the National vaccine prevalence is up to 15% in the same age demographic. In order to test this assumption, a researcher conducted a study and found that out of 3,579 women in the demographic surveyed, 879 reported receiving one or more of the three shots included in the package for the vaccine.

A) Is the sample size large enough to justify the use of the Z formula?

B) Test if the proportion of the prevalence of the vaccine has changed. Use = 0.05. Hint: One sample proportion.

C) Calculate the 95% two-sided confidence interval for p and make a conclusion about H₀.

D) Compare your results and conclusions in a and b above. What would you conclude?

Carry probabilities to at least four decimal places for intermediate steps.

For extremely small probabilities, it is important to have one or two significant non-zero digits, for example, 0.000001 or 0.000034.

Round off your final answer to two decimal places.

*HAND Calculations ONLY, Show ALL steps*

Use StatCrunch and/or Excel (or another software of your choosing) to create a table of summary statistics for all Quantitative variables in the Cleaned Student Data Survey Results that you submitted for Course Project 3. The table should include the following summary statistics:

n (count)

Mean

Standard Deviation

5-Number-Summary (Min, First Quartile, Median, Third Quartile, Maximum)

Range (= Max - Min)

Inter-Quartile Range (IQR = Q3 - Q1)

The table should include these summary statistics for the following variables: Age, Height (in), Shoe Size, TV, Credits, Sleep, Work, Songs, Facebook Friends, Social Media Checks, tattoos number, and Siblings. I would recommend the following format.Bounds for Outliers (Lower Bound = Mean - 2.5 * Standard Deviation, Upper Bound = Mean + 2.5 * Standard Deviation)

You would like to determine if a prospective customer is more likely to purchase a product after viewing a promotional advertisement for that product. You have the following data from the focus group.

Conduct a hypothesis test using a 0.05 level of significance. Remember to show your work and indicate your conclusion.