A Project Network Is Shown Below

question 10

Essay

A project network is shown below. Use a forward and a backward pass to determine the critical path, and then fill out the table below. Activity times are in weeks. Now assume that the times listed are only the expected times instead of being fixed times. Is the probability of being finished in more than 28 weeks more or less than 50%?

Understand the concept of bootstrapping as a resampling technique to estimate the distribution of a statistic from a sample.

Compute and interpret the bootstrap estimate of bias and standard error for sample statistics.

Construct and interpret bootstrap confidence intervals for population parameters based on sample statistics.

Recognize the plug-in principle in statistical estimation and its application in bootstrapping.

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Definitions:

Straight-line Method

A method of calculating depreciation for an asset that spreads the cost evenly over its useful life.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset over its useful life, reducing its book value.

Salvage Value

The estimated residual value of an asset at the end of its useful life, reflecting what it could be sold for or scrapped for parts.

Journal Entries

Journal entries are the basic means of recording financial transactions in the accounting system, consisting of debits and credits.