Advanced Business Statistics Homework

A typical business request is to submit a budget—this can include budgets for funding a project, a planned business trip, and even operating costs for an office location. In the file “Budget.xlsx” a typical line item budget estimate is provided for a radiology department at a small hospital.

Develop a forecasted budget using the PERT methodology (explained below) and compute the expense point where you are at least 95% sure that your expenses will not exceed this amount.

Use the file: “Budget.xlsx” to get you started and the information below to help guide you through the PERT methods.

Write a one-page paper summary of your findings and submit both the excel file and your document to Canvas. Your summary should include a written explanation of your “most likely” estimates, the type of value for each of the categories (deterministic vs probabilistic and why), and a written explanation of what the expense point means.

Expense Dec-18
Scans 14551.85
Salaries 13525.48
Medications 1843.23
Film 4850.62
Mammography 2586.35
Specialists 582.07
Supplies 4365.56
Travel 194.02
Equipment Lease 3216.93

Last Updated on February 10, 2019 by EssayPro