Consider the network described in the table below.
(a) Calculate the expected duration of each activity.
(b) Calculate the expected duration and variance of the critical path.
(c) Calculate the probability that the project will be completed in more than 28 weeks time units.
Definitions:
MUₐ /Pₐ
Represents the ratio of the marginal utility (MU) of a good to its price (P), indicating the additional satisfaction per unit of currency spent on that good.
Product B
A general term used to refer to a second product or an alternative in a list or comparison of goods.
Income
The financial gain or revenue received by an individual or entity in exchange for providing labor or through investments.
Research and Development
The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.
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