MAN 4504 Project 1 Problem – Miami 305 Cafe

Project 1 ProblemFor this project you can use EXCEL for calculations and then cut and paste intoWord document.Miami 305 Cafe is a cafe that serves soft drinks and food at moderate prices. Overtime, the company has found that its dollar volume is dependent on the Miami Cafe’spayroll. The following table lists Miami Cafe’s revenues and the payroll for the years2010 – 2014.MIAMI CAFYear Miami Caf Sales2010 $2,000.002011 $3,000.002012 $2,500.002013 $2,250.002014 $2,300.00Payroll$ 120.00$ 350.00$ 400.00$ 225.00$ 115.00a. Plot data to determine whether there is a straight- line (linear) relationship.b. Using Microsoft Excel determine estimated regression equation (please show allnecessary steps tin detail in order get to regression equation)c. If management predicts that Miami Cafe’s payroll next year will be $625, what willbe 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 inweeks. You need to show your work!ActivityABCDEFGHIJKa.Preceding-AAABBC, FDHG, IE, JOptimisticProbablePessimisticExpectedTime72834622642Time921256832862Time14816108104816145VarianceTime1.3611.001.7781.3610.4440.4440.1111.0002.7782.7780.250Calculate the expected time for each activity. Enter these values in the appropriatecolumn 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?