Optiоn = A (fоr Prоf. Schwаrtz... disregаrd) Excelsior Technologies is а tech start up that creates website solutions for mid-sized businesses. Excelsior has two large clients, one of which is ABC Company. Excelsior is working on a large project for ABC Company which has a due date of 10/30/2024. Unfortunately, the Project Manager anticipates there is a possibility that the project will be delayed. Based on historical experience of other similar projects, the Project Manager has estimated the following for the project for ABC Company: The probability of no delay = 60% The probability of a delay of 5 days = 20% The probability of a delay of 10 days = 15% The probability of a delay of 15 days = 5% Per the terms of the contract with ABC Company > Each day the project is delayed past the 10/30/2024 deadline = $1,000 is taken off of the agreed price of the project (i.e. = every day the project is delayed = -$1,000 financial consequence for Excelsior Technologies) ***Hint = remember how we measure consequence / severity in the world of risk management!!! Based on the above information – please answer the following questions: (BE SURE TO SHOW YOUR CALCULATIONS FOR EVERY PART OF THIS PROBLEM. IF YOU DO NOT SHOW YOUR WORK… YOU WILL NOT RECEIVE CREDIT FOR YOUR ANSWER!!!) Part A: [4 points] Complete a Probability Distribution for the risk of financial consequence (loss) from the delay of the project for ABC Company (from the perspective of Excelsior Company) (feel free to copy the below chart for your work) Outcome: Probability (Frequency): Consequence (Severity): Outcome #1 X X Outcome #2 X X Outcome #3 X X Outcome #4 X X Part B: [4 points] Calculate the Expected Value of the financial consequence (loss) from the delay of the project for ABC Company (from the perspective of Excelsior Company): (round to two decimal places… and show ALL calculations!!!) Part C: [2 points] Based on the historical experience of other similar projects, the Project Manager has also calculated the following in regard to the project for ABC Company: The variance of the financial consequence (loss) from the delay of the project for ABC Company = 20,687,500 squared dollars Take the variance as FACT (you do NOT need to calculate it) Calculate the Standard Deviation of the financial consequence (loss) from the delay of the project for ABC Company (from the perspective of Excelsior Company): (round to two decimal places… and show ALL calculations!!!) Part D: [5 points] Excelsior Technologies other large client is XYZ Corporation. Excelsior is working on a large project for XYZ Corporation as well, which also has a due date of 10/30/2024. The Project Manager of this project also anticipates the possibility the project will be delayed. Based on historical experience of other similar projects, the Project Manager has estimated and calculated the following for the project for XYZ Corporation: The Expected Value of the financial consequence (loss) from the delay of the project for XYZ Corporation = $17,500 The Standard Deviation of the financial consequence (loss) from the delay of the project for XYZ Corporation = $14,957.92 The CEO of Excelsior is concerned about the possible delays on these two key projects: In terms of the key measure of objective measure of risk (the key measure of volatility) > which project faces more uncertainty in terms of financial consequence (loss) from delay? (i.e. = which project should the CEO be more “uncertain” about the outcome?) (round to two decimal places… and show ALL calculations!!!)