MAN 4504 Project 1 Problem - Miami 305 Cafe
Question # 00047691
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Updated on: 02/10/2015 12:22 AM Due on: 02/10/2015
Project 1 Problem
For this project you can use EXCEL for calculations and then cut and paste into
Word document.
Miami 305 Cafe is a cafe that serves soft drinks and food at moderate prices. Over
time, the company has found that its dollar volume is dependent on the Miami Cafe's
payroll. The following table lists Miami Cafe's revenues and the payroll for the years
2010 - 2014.
MIAMI CAF
Year Miami Caf Sales
2010 $
2,000.00
2011 $
3,000.00
2012 $
2,500.00
2013 $
2,250.00
2014 $
2,300.00
Payroll
$ 120.00
$ 350.00
$ 400.00
$ 225.00
$ 115.00
a. Plot data to determine whether there is a straight- line (linear) relationship.
b. Using Microsoft Excel determine estimated regression equation (please show all
necessary steps tin detail in order get to regression equation)
c. If management predicts that Miami Cafe's payroll next year will be $625, what will
be the estimated sales?
d. Calculate standard error of the estimate (show all your work)
e. Calculate the coefficient of correlation (show your work)
Project 2 Problem:
A partially solved PERT problem is detailed in the table below. Times are given in
weeks. You need to show your work!
Activity
A
B
C
D
E
F
G
H
I
J
K
a.
Preceding
-A
A
A
B
B
C, F
D
H
G, I
E, J
Optimistic
Probable
Pessimistic
Expected
Time
7
2
8
3
4
6
2
2
6
4
2
Time
9
2
12
5
6
8
3
2
8
6
2
Time
14
8
16
10
8
10
4
8
16
14
5
Variance
Time
1.361
1.00
1.778
1.361
0.444
0.444
0.111
1.000
2.778
2.778
0.250
Calculate the expected time for each activity. Enter these values in the appropriate
column in the table above.
b. Which activities form the critical path?
c. What is the estimated time of the critical path?
d. What are the project variance and the project standard deviation?
For this project you can use EXCEL for calculations and then cut and paste into
Word document.
Miami 305 Cafe is a cafe that serves soft drinks and food at moderate prices. Over
time, the company has found that its dollar volume is dependent on the Miami Cafe's
payroll. The following table lists Miami Cafe's revenues and the payroll for the years
2010 - 2014.
MIAMI CAF
Year Miami Caf Sales
2010 $
2,000.00
2011 $
3,000.00
2012 $
2,500.00
2013 $
2,250.00
2014 $
2,300.00
Payroll
$ 120.00
$ 350.00
$ 400.00
$ 225.00
$ 115.00
a. Plot data to determine whether there is a straight- line (linear) relationship.
b. Using Microsoft Excel determine estimated regression equation (please show all
necessary steps tin detail in order get to regression equation)
c. If management predicts that Miami Cafe's payroll next year will be $625, what will
be the estimated sales?
d. Calculate standard error of the estimate (show all your work)
e. Calculate the coefficient of correlation (show your work)
Project 2 Problem:
A partially solved PERT problem is detailed in the table below. Times are given in
weeks. You need to show your work!
Activity
A
B
C
D
E
F
G
H
I
J
K
a.
Preceding
-A
A
A
B
B
C, F
D
H
G, I
E, J
Optimistic
Probable
Pessimistic
Expected
Time
7
2
8
3
4
6
2
2
6
4
2
Time
9
2
12
5
6
8
3
2
8
6
2
Time
14
8
16
10
8
10
4
8
16
14
5
Variance
Time
1.361
1.00
1.778
1.361
0.444
0.444
0.111
1.000
2.778
2.778
0.250
Calculate the expected time for each activity. Enter these values in the appropriate
column in the table above.
b. Which activities form the critical path?
c. What is the estimated time of the critical path?
d. What are the project variance and the project standard deviation?
-
Rating:
/5
Solution: MAN 4504 Project 1 Problem - Miami 305 Cafe (Solution)