Once again, your boss is allergic to mathematical equations. Base your conclusion by mimicking or simulating for 30 days. (hint: set up a table with columns as follows: day#, demand, profit with 1 in stock, profit with 2 in stock….. profits with 10 in stock
January 5, 2018
Shipping Errors 7300  Out of Stock 2700  Construct a Pareto Diagram below to show this data. What area(s) should the focus be on?
January 5, 2018

Hint: use -randbetween (). Set up a table to list activity times, path lengths, project duration and if activity C is on the critical path. The table would have 30 rows to mimic the project 30 times.

A project consists of five activities- A, B, C, D, and E. Times for each of these activities is uncertain, and the minimum and maximum times are known (Shown in the table below), and any intermediate value is equally probable.

Activity, Immediate Predecessor(s), Minimum time(Days). Maximum Time(days)
A, — ,1 ,7
B, A ,10 ,18
C, A ,8 ,20
D, B,C ,4 ,6
E, D ,2 ,10

We are interested in finding out the following: 1) the average time it can take to complete the project, and 2) criticality index for activity C. Use excel to mimic or simulate the project 30 times to determine your answer. The term “criticality index” for an activity refers to the probability that the activity is on the critical path. (For ease of analysis, just assume that the time is measured only in rounded number of days. Hint: use -randbetween (). Set up a table to list activity times, path lengths, project duration and if activity C is on the critical path. The table would have 30 rows to mimic the project 30 times.

 

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