A project is composed of 7 activities labeled from 1 to 7. Each activity starts as soon as possible. The activity durations are all independent and exponentially distributed. For each activity, the expected duration in days, and precedence constraints are given in this figure:Image transcription textd2=3 ds=4 2 5 d, =1 d3=2 d,=2 3 7 do=5 d4=3 O… Show moreFor example, Activity 5, whose duration follows an exponential distribution with rate parameter 1/4 (and thus has an expected duration of 4 days), can only start once Activities 2 and 3 have been finished. Use Excel to answer the following questions.a) Simulate the project 10000 times and approximate the expected project finish time.b) Give a 95% confidence interval for the expected project finish time in days. How can you interpret this confidence interval?c) We are interested in the probability that the project takes more than 12 days.Simulate this probability and give a 95% confidence interval. Business Management Project Management STATS 102A

## d2=3 ds=4 2 5 d, =1 d3=2 d,=2 3 7 do=5 d4=3 O

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