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Given the following financing project being considered by the venture film, find out the critical path probability of completion by 17 weeks. By 24 weeks. By what date is management 90 percent sure completion will take place?

Times (weeks)
Activity Optimistic Most Likely Pessimistic
1-2 5 11 11
1-3 10 10 10
1-4 2 5 8
2-6 1 7 13
3-6 4 4 10
3-7 4 7 10
3-5 2 2 2
4-50 6 6  
5-72 8 14  
6-71 4 7  

If the venture firm can complete project for the customer in 18 weeks, it will receive the bonus of $10,000. But if the project delays beyond 22 weeks, it should pay a penalty of $5,000 because of lost customer impact. If the firm can select whether or not to bid on this project, what should its decision be if project is only a breakeven one normally?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922785

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