1. Long Beach Bank employs three loan officers, each working eight hours per day. Each officer processes an average of five loans per day. The bank's payroll cost for the officers is $820 per day and there is a daily overhead expense of $500. The bank has just purchased new computer software that should enable each bank officer to process eight loans per day, although the overhead expense will increase to $550. a) What is the multifactor productivity before and after implementation of the new software? b) What is the multifactor percentage change in productivity? 2. A list of activities and their immediate predecessors are given below: Construct an AON project network. 3. A project has a completion time of 24 weeks with a variance of 9 weeks. Assuming that the project completion time follows a normal distribution, compute the following: a) The probability that the project will be completed in less than 20 weeks. b) The probability that the project will be completed in more than 26 weeks. c) The probability that the project will be completed between 20 weeks and 26 weeks.