Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activitieslisted in the following table. Use Table B.ΤΙME IN DAYSImmediateActivityPredecessorOptimistic Most Likely PessimisticA7B8811CA68119.1215E6FD7GF237HB44IH78EndE, G, IClick here for the Excel Data Filea. What is the probability that the project can be completed in 24 days or less? In 21 days or less? (Round your te and z values to 2decimal places and "Standard deviation" to 3 decimal places. Round your final answers to 4 decimal places.)DaysProbability24 days or less21 days or less b. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percentcompleted. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine theprobability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3decimal places and final answers to 4 decimal places.)ProbabilityDay 24Day 21c. The partners have decided that shortening the project by two days would be beneficial. They have estimated the daily crashingcosts for each activity in thousands, as shown in the following table. Which activities should be crashed?ActivityFirst CrashSecond Crash$8$10$9$7$8$10$11$10DE$9$9FG$7$6H$8First Activity to CrashSecond Set of Activities to Crasho o 00

Expected time Te=Optimistic Time +4×Most Likely Time +Pessimistic Time6 Variance σ2=Pessimistic Time…

Answered: Three recent college graduates have…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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