Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Management Expert

Confidence in Simulation Results

Scenario: A project team developed a detailed construction plan that includes activities with uncertain duration's, including precedence constraints. The plan was simulated 10 times, and using a significance level of 0.05, the expected project duration was found to be:
- 365 ± 47 days
In other words, the true mean duration could be anywhere between 318 days and 412 days. Moreover, this is only the mean duration. Given any particular outcome, actual duration could be quite different. We would like to calculate the expected duration with only 20 total days of error. Please provide the number of simulation replications (n) required to accomplish this.

Hi, I need some assistance with the above question please. I was looking to use the proportion data method and calculate the standard deviation from original half-width. However, I am lost on setting this up in excel.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M9282831

Have any Question?


Related Questions in Business Management

What are the moralethical implications on the use of power

What are the moral/ethical implications on the use of power to influence outcomes? Do ends justify means when exerting power? Support your answer.

Determine what traits you need to work on the most to

Determine what traits you need to work on the most to become a good leader. Then, explain whether these traits differ from the strengths you need to be a good manager

Please help with the potential barriers to effective

Please help with the potential barriers to effective strategic planning in the health care environment How does this differ from the general business world?

Explain a business process you are familiar with describe

Explain a business process you are familiar with. Describe how a computer-based information system is related (or used) in this business process. Explain how a computer-based information systems can improve the efficienc ...

What is the difference between a heroic leader and a

What is the difference between a heroic leader and a transformational leader and which of the two is best suited to work in today's business world?

What is the purpose of each of the following financial

What is the purpose of each of the following financial statements: income statement, balance sheet, statement of cash flow and statement of owner's equity?

In a market characterized by monopolistic competition how

In a market characterized by monopolistic competition, how will new firms choose to engage this market? Select the correct answer below: Firms will enter the market to avoid losing economic profits that occur in perfect ...

In regards to guest room numbers what should a front desk

In regards to guest room numbers, what should a front desk agent do when a person asks for a guest's room number? What should a front desk agent do when a guest asks for a room key but does not have any identification on ...

Which of the listed qualities of leaders and managers did

Which of the listed qualities of leaders and managers did the nurse manager display? Which behaviors? Which ones did the nurse manager not display?

What kind of challenges and opportunities is four seasons

What kind of challenges and opportunities is Four Seasons Hotels facing in terms of processes and lateral capabilities? Please provide references for your answers.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As