You should spend 80 min. to complete the following three problems (open-book, NO open-note):
Problem 1 (30 Points): An engineer is asked to provide the company with an estimated total cost for both a new and used vehicle over the 5 year test period. A new vehicle costs $20,000 and has an annual maintenance and operating cost of $15,000. A used vehicle costs $10,000 and has an annual maintenance and operating cost of $19,000. It is also estimated that the new car will have a salvage value of $8,000 and the used car will have a salvage value of $4,000. Determine the total present value of costs as a discount rate of 10%. (Show all of your work)
Problem 2 (40 Points): Shown below are the PERT schedule and the precedence relationships among the activities required to complete a project.
⦁ Setup the project activity network diagram for the following relationships in the table and determine the critical path.
⦁ What is the probability if the company wants the project completed in more than 32 weeks?
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