Santa claus enterprises has 87,000 shares of common stock outstanding at a current price of $39 a share. the firm also has two b
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The precedence diagram for the problem above is attached. See the definition of a precedence diagram and the probability calculations below.
<h3>What is a precedence Diagram?</h3>A precedence diagram is an optical or graphical representation tool that displays a project's activities.
<h3>What is the probability of finishing the project by the 24th day or less?</h3>
Recall that:
z = (Specified Time - Path's mean)/Path's Standard Deviation.
Hence for z₂₁
(21 − 20.5)/1.118 = 0.447 ≈ 0.45.
Hence the probability is: P(Z<0.45) =0.6736
(21 − 21.5)/1.344 = −0.3721 ≈ −0.37
Hence the probability is: P(Z<-.37) = 0.3557
(21 − 19.5)/.726 = 2.066 ≈ 2.07
Hence the probability is: P(Z<2.07) = 0.9808
Following through on the above, the project will be finished in less than 21 days is given as:
P = 0.23499920921
P ≈ 0.2350
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