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A project has four activities (A, B, C, and D) that must be performed sequentially. The probability distributions for the time required to complete each of the activities are as follows: Activity Activity Time (weeks) Probability A 5 0.25 6 0.35 7 0.25 8 0.15 B 3 0.20 5 0.55 7 0.25 C 10 0.10 12 0.25 14 0.40 16 0.20 18 0.05 D 8 0.60 10 0.40 Provide the base-case, worst-case, and best-case calculations for the time to complete the project. Activity Base case Worst case Best case A weeks weeks weeks B weeks weeks weeks C weeks weeks weeks D weeks weeks weeks Total weeks weeks weeks Use the random numbers 0.1778, 0.9617, 0.6849 and 0.4503 to simulate the completion time of the project in weeks. Activity Random Number Completion Time A 0.1778 weeks B 0.9617 weeks C 0.6849 weeks D 0.4503 weeks Total weeks

Financial Management, Finance

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