Question

Answer next 3 questions using following information:

A project has three activities A, B, and C that must be carried out sequentially. The probability distributions of the times required to complete each of the activities A, B, and C have uniform probability distribution in the following ranges:.

Activity     Completion Time

A                   1 to 5

B                   2 to 3

C                    3 to 6

Find the total project completion time and run 500 simulation trials in Excel.

1/ The “project completion time” is a(n)…

Select one:

a. Output of the simulation

b. Input of the simulation

c. A fixed value in each simulation trial

d. Can not be decided by simulation

2/ Which of the following Excel functions would properly generate a random number for the duration of activity C?

Select one:

a. 3* RAND()

b. 3+ 6 * RAND()

c. 3+ 3 * RAND()

d. NORM.INV(RAND(),3,6)

e. NORM .INV(RAND(),6,3)

3/ The standard deviation of the project completion time is closest to:

Select one:

a. 2.83

b. 1.47

c. 1.15

d. 1.82

e. 1.63

Answer 1

The Project completion time is

Ans 1) a : output of the simulation

For duration c, Function for random number generation is

Ans 2) c: 3 + 3*RAND()

Standard Deviation of project completion Time is near to

Ans 3) b:1.47

Simulation Number	A	B	C	Completion Project Time			Simulation Formula
1	3.74	2.06	4.19	9.99			A = 1 + (5-1)*RAND() = 1 + 4*RAND()
2	4.17	2.74	4.38	11.29			B = 2 + (3-2)*RAND() = 1 + 1*RAND()
3	1.56	2.66	4.02	8.24			C = 3 + (6-3)*RAND() = 1 + 3*RAND()
4	4.40	2.75	3.46	10.62
5	3.23	2.16	3.45	8.85			Slandered Deviation
6	1.27	2.38	3.26	6.91			Standered Deviation = STDEV(E:E)
7	3.82	2.05	4.39	10.27
8	1.57	2.40	4.42	8.39			Standered Deviation =		1.475046
9	3.34	2.65	3.60	9.60
10	3.14	2.93	3.99	10.06
11	1.18	2.74	5.29	9.20
12	1.24	2.25	3.25	6.74
13	2.84	2.56	4.27	9.67
14	2.76	2.64	3.42	8.83
15	3.35	2.71	4.06	10.12