Question 1 4. a)  tanz tech is an auto shop that specializes in the

Question 1

4. A)  Tanz Tech is an auto shop that specializes in the restoration of vintage BMW automobiles.  One of Tanz Tech’s regular customers asked Mike (owner) to prepare an estimate for the restoration of a 1957 BMW Roadster.  To estimate the time and cost to perform such a restoration, Mike broke the restoration process into four separate activities: disassembly and initial preparation work (A), body restoration (B), engine restoration (C), and final assembly (D).  Once activity A has been completed, activities B and C can be performed independently of each other; however, activity D can be started only if both activities B and C have been completed.  Based on Mike’s inspection of the car, Mike believes that the following time estimates (in days) are applicable.

Mike estimates that the parts needed to restore the body will cost $3,000 and that the parts needed to restore the engine will cost $5,000.  His current labor costs are $400 per day.

What is the project expected completion time? 

Enter the numerical value only, rounded to one decimal place.

T = 

Question 2

4. B)  Tanz Tech

What is the project completion time standard deviation?

.

STD DEV =

Question 3

4. C)  Tanz Tech

If Mike obtains the job with a bid $16,800, what is the probability that he will lose money on the job?

P =

Answer 1:

Question 4

5. A)  Consider the following project information.

What is the expected project completion time? 

Enter the numerical value only, rounded to one decimal place.

T =

Question 5

5. B)  Consider the following project information.

What is the expected project completion time standard deviation? 

Enter the numerical value only, rounded to two decimal places.

STD DEV =

Question 6

5. C) Consider the following project information.

Find the probability that the job will be completed in 30 days or less.  

Enter the numerical value only, rounded to four decimal places.

P =