Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 7, Problem 18P
Summary Introduction
Interpretation: The expected time and variance in task A is to be calculated.
Concept Introduction:
PERT diagram is a graphical project management tool used to organize and analyze project and it’s activity. It defines time duration for a project and also for each activity in a project.
Expert Solution & Answer
Explanation of Solution
The estimated task time can be computed by adding optimistic time, mostly likely time multiplied by 4, and pessimistic time. Then, divide the attained value with 6. The optimistic time is 3 days, mostly likely time is 4 days, and pessimistic time is 10 days of task A.
Hence, the estimated time in task A is 4.8 days
Variance in task time:
The variance in task time computed by deducting optimistic time from pessimistic time and divided by six. Then, completely square the attained value. The optimistic time is 3 days, and pessimistic time is 10 days of task A.
Hence, the variance in task A time is 1.36 days.
The project management has two techniques that is critical path method and program Evaluation Review technique. In program evaluation review technique the project’s optimistic time, mostly likely time, and pessimistic time are combined together in to single expected value. This expected value signifies expected time of project’s task.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
What are the household chores, and how do we explore the numerous benefits of sharing?
How can improving relationships enhance the quality of life? By sharing household responsibilities, we can turn routine tasks into opportunities for connection and collaboration.
How to focus on how to strengthen relationships, boost efficiency, and enhance overall well-being in the family?
What are the obstacles to checking the security of the house, making sure groceries are stocked, or attending to sick family members?
2. New Trade Theory and Market Structure
a. Summarize how new trade theory accounts for economies of scale and first-mover advantages, in contrast to classical theories.
b. Choose an industry—such as commercial aircraft, consumer electronics, or academic publishing—where a few large firms dominate.
c. Critically evaluate how first-mover advantages and scale economies impact global competition and trade flows in your chosen industry.
3. Trade Policy Instruments and Their Business Impact
a. Identify and describe at least three trade policy instruments (e.g. tariffs, quotas, export subsidies, local-content requirements, standards).
b. Pick a country that has implemented a recent trade policy change (for instance: increased tariffs, stricter import standards, or incentives for domestic production).
c. Analyze how this policy change affects both local and international businesses using the frameworks from the chapter. Then, propose two strategic responses a multinational firm…
describe how you would fix or correct these culture issues.
Chapter 7 Solutions
Practical Operations Management
Ch. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQCh. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4P
Ch. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 7PCh. 7 - Prob. 8PCh. 7 - Prob. 9PCh. 7 - Prob. 10PCh. 7 - Prob. 11PCh. 7 - Prob. 12PCh. 7 - Prob. 13PCh. 7 - Prob. 14PCh. 7 - Prob. 15PCh. 7 - Prob. 16PCh. 7 - Prob. 17PCh. 7 - Prob. 18PCh. 7 - Prob. 19PCh. 7 - Prob. 20PCh. 7 - Prob. 21PCh. 7 - Prob. 22PCh. 7 - Prob. 23PCh. 7 - Prob. 24PCh. 7 - Prob. 25PCh. 7 - Prob. 26PCh. 7 - Prob. 27PCh. 7 - Prob. 28PCh. 7 - Prob. 29PCh. 7 - Prob. 30PCh. 7 - Prob. 31PCh. 7 - Prob. 32PCh. 7 - Prob. 1.1QCh. 7 - Prob. 1.2QCh. 7 - Prob. 1.3QCh. 7 - Prob. 1.4QCh. 7 - Prob. 2.1QCh. 7 - Prob. 2.2QCh. 7 - Prob. 2.3Q
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Similar questions
- 1. Hofstede’s Cultural Dimensions in Managerial Decision-MakingChoose two of Hofstede’s dimensions (e.g., Power Distance, Individualism–Collectivism, Uncertainty Avoidance, Masculinity–Femininity) and analyze how differences between two specific countries impact managerial decisions such as delegation, risk-taking, or performance appraisal. Provide real or hypothetical business scenarios that illustrate these effects. 2. Communication Styles Across CulturesCompare and contrast high-context versus low-contextcommunication cultures (Hall’s framework). Select one high-context country and one low-context country and evaluate the implications for written reports, virtual meetings, and feedback delivery. Develop three practical guidelines for an international manager to navigate these differences effectively.arrow_forwardCalculate the Current Ratio for Home Depot for the fiscal year-end February 2019? Enter the response as a ratio, rounded to two decimal places (X.XX) Calculate the Debt to Equity Ratiof or Home Depot for the fiscal year-end February 2019. Enter the response as a ratio, rounded to two decimal places (X.XX) Calculate the Rate of Return on Total Assets for Home Depot for the fiscal year-end February 2019. Round your answer to two decimal places For disclosure purposes, how many segments did the company report?arrow_forwardDiscuss Probability and Probability Distributions, Provide good rationale and share some examples.arrow_forward
- 3. Conducting Research:What types of information should a negotiator research before entering a negotiation? Provide an example of how effective research can strengthen a negotiator’s position. 4. Anticipating the Other Party’s Interests:Why is it important to understand the interests and objectives of the other party? How can this knowledge improve the chances of a successful negotiation? 5. Chapter Summary Reflection:Reflect on the key lessons from Chapter 3. How do preparation and research work together to build confidence and increase your negotiation effectiveness?arrow_forwardUse real-life or hypothetical examples where appropriate to support your responses. 1. Preparation and Planning:Why is preparation and planning considered essential for negotiation success? Describe at least two steps negotiators should take during the planning phase. 2. Setting Goals and Priorities:When preparing for a negotiation, how should a negotiator set their goals and determine their priorities? How do clear goals impact the negotiation outcome?arrow_forwardWhat was the closing stock price on the last day of business for the fiscal year-end February 2019 for Home Depot? Look it up. Enter the response in terms of dollars and cents Calculate the Price/Earnings ratio at the end of the fiscal year-end February 2019 for Home Depot. Round your answer to two decimal places. Enter as (XX.XX) How many shares of Treasury Stock does the Home Depot have at their fiscal year-end February 2019? If none, enter “0”. Did the Home Depot pay dividends? What is the amount per share for the entire fiscal year-end Februaruy 2019? If none, enter “0”. Enter the response in terms of dollars and cents ($XXX.XX)arrow_forward
- What were the Basic Earnings Per Share for the fiscal year-end February 2019 for Home Depot published in the financial statements? Enter the response in terms of dollars and cents ($XXX.XX)arrow_forwardCalculate the Current Ratio for Home Depot for the fiscal year-end February 2019? Enter the response as a ratio, rounded to two decimal places (X.XX) Calculate the Debt to Equity Ratiof or Home Depot for the fiscal year-end February 2019. Enter the response as a ratio, rounded to two decimal places (X.XX) Calculate the Rate of Return on Total Assets for Home Depot for the fiscal year-end February 2019. Round your answer to two decimal places For disclosure purposes, how many segments did the company report?arrow_forwardWhat was the closing stock price on the last day of business for the fiscal year-end February 2019 for Home Depot? Look it up. Enter the response in terms of dollars and cents ($XXX.XX) Calculate the Price/Earnings ratio at the end of the fiscal year-end February 2019?.Round your answer to two decimal places. Enter as (XX.XX) How many shares of Treasury Stock does the company have at their fiscal year-end February 2019? If none, enter “0”. Did the company pay dividends? What is the amount per share for the entire fiscal year-end February 2019? If none, enter “0”. Enter the response in terms of dollars and cents ($XXX.XX) What is the amount of cash generated (or used) by Operating Activities on the Statement of Cash Flows for the fiscal year-end February 2019 ? (Enter the response in terms of dollars ($XXX,XXX,XXX,XXX or (-$XXX,XXX,XXX,XXX)) Calculate the Gross Profit Ratio for the fiscal year-end February 2019.Round your answer to two decimal places. Enter the response in terms of…arrow_forward
- What is the name of the Auditing Firm that conducted the audit for Home Depot for the fiscal year-end February 2019? What is the fiscal year-end date for the financials? State the answer in this format: MMDD19 What inventory method does the company use for the majority of their merchandise inventory? What depreciation method(s) are used to prepare the financial statements? Select all that apply. List the useful lives of the fixed assets used to calculate depreciation. Select all that apply. What were the number of common shares outstanding on the last day of the fiscal year? State the answer in the following format: (XXX,XXX,XXX) (not in millions)…arrow_forwardWalmart is one of the most important supermarket chains in the United States. It has subsidiaries in over 25 countries, with more than 6,000 stores. In 2014, however, it had problems in China. Based on the contents of the units, and any secondary sources that you consider relevant (such as articles published online or in another format), answer the following questions, providing support for your answers. Why did Walmart’s internationalization in China fail? What was the strategic option for entering the Chinese market? What would you have recommended? Which groups of stakeholders were not taken into consideration? What would the correct stakeholder analysis have been?arrow_forwarddescribe a company you believe uses these 3 items.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,
Inventory Management | Concepts, Examples and Solved Problems; Author: Dr. Bharatendra Rai;https://www.youtube.com/watch?v=2n9NLZTIlz8;License: Standard YouTube License, CC-BY