1) Company records show that the time taken to install a piece of equipment at customer facilities as follows:a) What is the expected time for the installation effort?b) What is the standard deviation associated with the installation effort?c) What is a practical interpretation for the results reported in 1a and 1b above?250 words for question 12) Marsha is in charge of planning a large software development project. She is trying to estimate the cost of the design phase. She works with a group of five experienced designers and asks them to estimate the lowest cost, highest cost, and most typical cost possibilities. After an hour of spirited discussion, the group provides the following estimates:Lowest cost $30,000Highest cost $50,000Most likely cost $45,000a) Using the PERT-Beta formula, what is the expected cost of the design effort?b) What is anticipated standard deviation for the design effort?c) What is a practical interpretation for the results reported in 2a and 2b above3) Build-It-Quick house construction company has turned house-building into a science. The standard plan for framing the Excelsior Model house is to execute this effort in 10 working days. Depending on the details of site conditions, the number of carpenters needed to do the job varies slightly from job to job. as shown below:Fewest number of needed carpenters 3 CarpentersLargest number 10 CarpentersMost likely number 5 Carpentersa) Using the PERT-Beta formula, what is the expected number of needed carpenters?b) What is anticipated standard deviation for the number of needed carpenters?c) What is a practical interpretation for the results reported in 3a and 3b above?4) What are some dangers you see in relying on this estimating technique200 words for question 45) Using your imagination and/or experience, describe another way to estimate task duration, cost, or manpower requirements.
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