Calculate-the-expected-time-business-and-finance-homework-help

Part I

Calculate the expected time (hours, days, weeks, or whatever) for the following tasks. Report the time to the next highest whole number.

Task Optimistic (shortest) Time Most Likely Time Pessimistic (longest) Time Expected Time (answer)
A 3 5 7
B 10 15 20
C 4 5 6
D 27 45 90
E 8 9 12
F 81 93 98

Part II

Each of these CPM diagrams corresponds to one of the task lists given below. Match them. Ex. A:#, B:#, etc.
Symbols:

START

END

A.

B.

C.

D.

E.

Part III

Part IV

Estimated and crash costs for each task are shown in the table below.

Answer the questions below the table.

Version 1 Original Estimates Crash Estimates Crash Differentials

Task

(T)

CP

*

Est. Time,

weeks

(ET)

Est. cost,

$1000,

(EC)

Crash

Time,

weeks

(CT)

Crash

Cost,

$1000

(CC)

Time

saved

(ET-CT)

Extra

cost

(CC-EC)

A * 5 10 4 12
B * 7 15 5 17
C 5 8 3 12
D * 6 6 5 8
E * 9 12 8 15
F 4 16 2 20
G * 5 20 2 21
(End)

CP=Critical Path. If task is on CP, then *; otherwise blank.

  1. Fill in the blank cells under Crash Differentials.
  2. Instead of the scheduled 7 weeks, Task B took 9 weeks. Which task or tasks should be crashed to make up the lost time, at minimum cost? Explain.