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Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation. (j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) We would like to use the variance information to compute the probability that the entire project will be complete in 35 days.  Screenshot attached

Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation. (j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) We would like to use the variance information to compute the probability that the entire project will be complete in 35 days.  Screenshot attached

Practical Management Science
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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(i) Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation.
(j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range)
We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. 

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attached

thank you!!

z

31 32 36 37 38 39 40 41 42 A 43 44 B с G D E,F A B C D E F G Activity Earliest Start Earliest Finish Latest Start F ES 0 0 7 = 7 16 8 16.5 25.8 Instructions EF 7 9.3 G 10 LS 0 6.7 7 7.8 16 17.3 25.8 Q1 Q2 Q3 16 16.5 25.8 25 33.6 H Table 6: Activity schedule for the seven activities of the project Variance (rounded to 2 decimal places) 7.83 Latest Finish Next, you would like to determine the variance of the project. Table 6 has the activity schedule for the seven activities. This schedule is determined using a network diagram; please refer to Figure 7.6 in the book. (g) Using the IF function, write a formula in J38 to display "Yes" if the activity is critical and display "No" if the activity is not critical. Copy the formula to cells J39:J44. To calculate the entire project's variance, we simply add variance for activities on the critical path. (h) Using the SUMIF function, write a formula in cell F46 to compute the project's variance. In Excel, the probability can be computed using NORM.DIST function. NORM.DIST function takes four arguments, viz, X, mean, standard_dev (standard deviation), and cumulative (whether the probability is cumulative or not). X is the target days to complete (cell F52), the mean is the project's expected duration (cell F50), the standard_dev is the standard deviation (F48), and the cumulative probability is TRUE. To see how to apply NORM.DIST function, you can watch the youtube videos (i) https://www.youtube.com/watch?v=OCJudfW_gHY or (ii) https://www.youtube.com/watch?v=p_KApjpyBHE 33 (k) Using NORM.DIST function, write a formula in cell F54 to compute the probability that the entire project will be complete in 35 days. 34 35 LF 7 16 16 17.3 (i) Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation. AN (j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) www P We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. 25.8 25.8 33.6 I 0.694444 Slack (LS - ES) 0 9.3 0 0.8 0 0.8 0 J 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 G K E,F Is the Activity Critical? Yes No Yes No Yes No Yes L A B C 5 D E F G M Activity Earliest Start Earliest Finish Latest Start ES 0 0 7 8 N 7 16 16.5 25.8 EF 7 9.3 16 16.5 25.8 25 10 O T 7.83 Sample Answer Table 6: Activity schedule for the seven activities of the project Latest Slack Finish Variance (rounded to 2 decimal places) LF 7 LS 0 6.7 7 7.8 16 17.3 25.8 16 16 17.3 25.8 25.8 33.6 P 0.694444 (LS-ES) 0 9.3 0 0.8 0 0.8 0 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 Is the Activity Critical? Yes No Yes No Yes No No Yes Q R S
Transcribed Image Text:31 32 36 37 38 39 40 41 42 A 43 44 B с G D E,F A B C D E F G Activity Earliest Start Earliest Finish Latest Start F ES 0 0 7 = 7 16 8 16.5 25.8 Instructions EF 7 9.3 G 10 LS 0 6.7 7 7.8 16 17.3 25.8 Q1 Q2 Q3 16 16.5 25.8 25 33.6 H Table 6: Activity schedule for the seven activities of the project Variance (rounded to 2 decimal places) 7.83 Latest Finish Next, you would like to determine the variance of the project. Table 6 has the activity schedule for the seven activities. This schedule is determined using a network diagram; please refer to Figure 7.6 in the book. (g) Using the IF function, write a formula in J38 to display "Yes" if the activity is critical and display "No" if the activity is not critical. Copy the formula to cells J39:J44. To calculate the entire project's variance, we simply add variance for activities on the critical path. (h) Using the SUMIF function, write a formula in cell F46 to compute the project's variance. In Excel, the probability can be computed using NORM.DIST function. NORM.DIST function takes four arguments, viz, X, mean, standard_dev (standard deviation), and cumulative (whether the probability is cumulative or not). X is the target days to complete (cell F52), the mean is the project's expected duration (cell F50), the standard_dev is the standard deviation (F48), and the cumulative probability is TRUE. To see how to apply NORM.DIST function, you can watch the youtube videos (i) https://www.youtube.com/watch?v=OCJudfW_gHY or (ii) https://www.youtube.com/watch?v=p_KApjpyBHE 33 (k) Using NORM.DIST function, write a formula in cell F54 to compute the probability that the entire project will be complete in 35 days. 34 35 LF 7 16 16 17.3 (i) Project's standard deviation is the square root of the variance. Write a formula in cell F48 to compute the project's standard deviation. AN (j)The earliest finish time for the last activity is the Project's duration. Write a formula in cell F50 to compute the project's duration. (Hint: You have to only refer to the cell range) www P We would like to use the variance information to compute the probability that the entire project will be complete in 35 days. 25.8 25.8 33.6 I 0.694444 Slack (LS - ES) 0 9.3 0 0.8 0 0.8 0 J 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 G K E,F Is the Activity Critical? Yes No Yes No Yes No Yes L A B C 5 D E F G M Activity Earliest Start Earliest Finish Latest Start ES 0 0 7 8 N 7 16 16.5 25.8 EF 7 9.3 16 16.5 25.8 25 10 O T 7.83 Sample Answer Table 6: Activity schedule for the seven activities of the project Latest Slack Finish Variance (rounded to 2 decimal places) LF 7 LS 0 6.7 7 7.8 16 17.3 25.8 16 16 17.3 25.8 25.8 33.6 P 0.694444 (LS-ES) 0 9.3 0 0.8 0 0.8 0 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 Is the Activity Critical? Yes No Yes No Yes No No Yes Q R S
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 Со A B D A B C D E F G ES 0 0 Activity Earliest Start Earliest Finish Latest Start - 7 = 7 16 16.5 25.8 E Project's Variance Table 6: Activity schedule for the seven activities of the project Variance (rounded to 2 decimal places) EF 7 9.3 16 16.5 25.8 25 33.6 Project's standard deviation F Project's Expected Duration Target days to complete Probability that the project will be complete in 35 days LS 0 6.7 7 7.8 16 17.3 25.8 1.93 35 Latest Finish LF 7 H 16 16 17.3 25.8 25.8 33.6 Slack (LS - ES) 0 I 9.3 0 0.8 0 0.8 0 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 J Is the Activity Critical? Yes No Yes No Yes No Yes K A B L C D E F M Activity Earliest Start Earliest Finish Latest Start ES 0 0 7 7 16 16.5 25.8 N EF 7 9.3 16 16.5 25.8 25 Table 6: Activity schedule for the seven activities of the project Latest Finish LS 0 6.7 7 7.8 16 17.3 25.8 LF 7 Project's Variance 16 16 17.3 25.8 25.8 33.6 O Sample Answer Project's Expected Duration Sample Answer Project's standard deviation Target days to complete Slack (LS-ES) 0 9.3 0 0.8 0 0.8 0 Probability that the project will be complete in 35 days P Variance (rounded to 2 decimal places) 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 1.93 1.3892 33.6 35 84.32% Is the Activity Critical? Yes No Yes No Yes No Yes Q R S T U
Transcribed Image Text:34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 Со A B D A B C D E F G ES 0 0 Activity Earliest Start Earliest Finish Latest Start - 7 = 7 16 16.5 25.8 E Project's Variance Table 6: Activity schedule for the seven activities of the project Variance (rounded to 2 decimal places) EF 7 9.3 16 16.5 25.8 25 33.6 Project's standard deviation F Project's Expected Duration Target days to complete Probability that the project will be complete in 35 days LS 0 6.7 7 7.8 16 17.3 25.8 1.93 35 Latest Finish LF 7 H 16 16 17.3 25.8 25.8 33.6 Slack (LS - ES) 0 I 9.3 0 0.8 0 0.8 0 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 J Is the Activity Critical? Yes No Yes No Yes No Yes K A B L C D E F M Activity Earliest Start Earliest Finish Latest Start ES 0 0 7 7 16 16.5 25.8 N EF 7 9.3 16 16.5 25.8 25 Table 6: Activity schedule for the seven activities of the project Latest Finish LS 0 6.7 7 7.8 16 17.3 25.8 LF 7 Project's Variance 16 16 17.3 25.8 25.8 33.6 O Sample Answer Project's Expected Duration Sample Answer Project's standard deviation Target days to complete Slack (LS-ES) 0 9.3 0 0.8 0 0.8 0 Probability that the project will be complete in 35 days P Variance (rounded to 2 decimal places) 0.1100 1.7800 0.4400 1.3600 0.6900 0.2500 0.6900 1.93 1.3892 33.6 35 84.32% Is the Activity Critical? Yes No Yes No Yes No Yes Q R S T U
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