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Find an example of a large project that took more than a year to complete, such as a major construction project. You can ask people at your college, university, or work about a recent project, such as a major fund raising campaign, information systems installation, or building project. You can also find information about projects online such as the Big Dig in Boston (www.masspike.com/bigdig), the Patronas Twin Towers in Malaysia, and many other building projects (www.greatbuildings.com). Why was the project initiated? Describe some of the preinitiating and initiating tasks completed for the project. Write a one-page paper or prepare a short presentation summarizing your findings.

 
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Since all the Hawkins Company’s costs (other than advertising) are essentially

fixed costs, managers want to maximize total revenue (net of advertising

expenses). According to a regression analysis (based on 124 observations) carried

out by managers,

Q = -23 – 4.1P + 4.2I + 3.1A

where Q is the quantity demanded of the firm’s product (in dozens), P is the

price of the firm’s product (in dollars per dozen), I is per capita income (in

dollars), and A is advertising expenditure (in dollars). a. If the price of the product is $10 per dozen, should managers increase advertising? b. If the advertising budget is fixed at $10,000, and per capita income equals $8,000, what is the firm’s marginal revenue curve?

c. If the advertising budget is fixed at $10,000, and per capita income equals

$8,000, what price should managers charge?

 

 
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Consider Figure 4-30. All duration estimates are in days, and the network proceeds from Node 1 to Node 9. (Note: Instructors should see the Instructor’s Manual for similar exercises.)

a. Draw an AOA network diagram representing the project. Put the node numbers in circles and draw arrows from node to node, labeling each arrow with the activity letter and estimated duration.

b. Identify all the paths on the network diagram and note how long they are, using Figure 4-19 as a guide for how to represent each path.

c. What is the critical path for this project, and how long is it?

d. What is the shortest possible time it will take to complete this project?

e. Enter the information into Project 2010. See the Brief Guide to Microsoft Project 2010 in Appendix A for detailed instructions on using this software. View the network diagram and task schedule table to see the critical path and float or slack for each activity. Print the Gantt chart and network diagram views and the task schedule table. Write a short paper that interprets this information for someone unfamiliar with project time management.

 
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The Cherry Manufacturing Company’s chief engineer examines a random

sample of 10 spot welds of steel. In each case, the shear strength of the weld

and the diameter of the weld are determined, the results being as follows:

The Cherry Manufacturing Company’s chief engineer examines a random sample of 10 spot welds of...

Does the relationship between these two variables seem to be direct or

inverse? Does this accord with common sense? Why or why not? Does the

relationship seem to be linear? Calculate the least-squares regression of shear strength on weld

diameter. c. Plot the regression line. Use this regression line to predict the average

shear strength of a weld ¹ 5 inch in diameter. Use the regression line to

predict the average shear strength of a weld ¼ inch in diameter.

 

 
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