Photstat Inc. is contemplating the formation of a project team to develop a new service. Briefly, the service would allow customers to order customized mouse pads over the Internet based on photographs or other artwork sent electronically to the firm. The company estimates that the price of the mouse pad will be between $10 and $15 per unit, with all prices in this range equally likely. Based on historical data, Photstat estimates that the total market size for these types of products in their first year follows a normal distribution with a mean of 100,000 units and a standard deviation of 10,000. Again, according to historical data, Photstatâ€™s market share tends to be normally distributed with a mean of 30 percent and standard deviation of 3 percent. Market growth tends to follow a normal distribution growing an average of 10 percent per year with a standard deviation of 3 percent. Estimates from the equipment manufacturer selected to design and produce the required equipment indicate that the cost of the equipment is normally distributed with a mean of $500,000 and a standard deviation of 60,000. Historical data indicate there is a 10 percent chance that the equipment will last for only 3 years. Similarly, there is a 60 percent chance the equipment will last 6 years, a 20 percent chance it will last 8 years, and a 10 percent chance the equipment will last 10 years. The variable costs of similar products were found to be normally distributed with a mean of $3 and a standard deviation of $0.25. Finally, an economic analysis undertaken by the firm suggests that the rate of inflation in any given year is normally distributed with a mean of 3 percent and a standard deviation of 0.5 percent.
Photstat Inc has been printing your treasured photo prints since 2018.
It allows you to order your prints online and have them delivered to your doorstep, or even have them shipped direct to friends and family.
It also offers “Pick Up In Store” options
Please check the word doc. Please fill out the ” Project objectives”, ” Major deliverables at least 3″, “summary budgetâ€œ â€summary schedule” part by bullet point. Each part has to answer at least 3 bullet point with full sentenses.