Pm592 Quiz 1

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Grading Summary|

These ar the automatically computed results of your exam. Grades for screen questions, and comments from your instructor, are in the Details section below. | Date interpreted: | 7/24/2011|
Time Spent:| 1 h , 58 min , 22 secs |
Points Received:| 80 / 80  ( snow%) |
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Question Type:| # Of Questions:| # Correct:|
Essay| 5| N/A|
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Grade Details|

 1.| Question :| (TCO B) Three-point estimate:
The SuperFlyer stool is developing a revolutionary flying disc. The new plaything can fly straight over a dandy distance, which is exciting by itself. However, this disc will also give birth to the owner in response to their voice! Because this is an advance over anything that this company has done before, estimating the add and make up of the hi-tech materials are difficult. The run across manager recommends using a range estimating accomplish to develop an estimate. The values below are submitted by the project team.
 
Current estimates for cost of material are as follows:
  cheerful cost of smart resin:| $6.00| per lb|
Most promising cost of smart resin:| $8.00| per lb|
Pessimistic cost of smart resin:| $8.



50| per lb|

 
Current estimates for total material requirements are as follows:
  Optimistic quantity:| 21 lb/ ascorbic acid units|
Most likely quantity:| 24 lb/ degree Celsius units|
Pessimistic quantity:| 30 lb/ 100 units|
 
(a) What is the expected price of the material per pound?
(b) What is the expected amount of material needed for 100 units?
(c) What is the expected cost for 100 units using the Simple Method?|
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 | Student Answer:|  | (a) Pexp = (Popt + 4 x Pmost + Ppess) / 6 = ($6.00+ 4*$8.00+$8.50)/6 = $7.75 per lb (b) Pexp = (Popt + 4 x Pmost + Ppess) / 6 = (21 lb/ 100 units + 4*24 lb/ 100 units + 30 lb/ 100 units)/ 6 = 24.5lb/ 100 units (c) expected cost for 100 units = $7.75 per lb * 24.5lb per 100 units =$189.875 per 100...If you want to get a full essay, order it on our website: Ordercustompaper.com



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