Question

a.) Your company is considering submitting a bid on a major project. You determine that the expected completion time for the project is 100 days, and that the standard deviation of the expected completion time is 8 days. (It is assumed that the normal distribution applies here.) You wish to set the project completion date in your bid such that there is an 80% chance that you will be able to complete the project by the date you have set. What due date should you set? (Note: fractional dates are allowed.) b.) this problem What is the probability that the project described above is done within 90 days?

Answer 1

ances of project giren! expected Completion time for o profect = 4 = lootage Standart teviation of expected Completion time = 8 days = 6 To fint:a) To find the date in lewhich there are 80% chances of pira Completion. Solo let X= no. of days needed to complete the project. then XuN(100, 64) = N(21, 62) which is given. let an be the date for which there are 80% chances of project Completion then P(X<n)=0.8 - P(x-4 = n-4)=0.8 3Ln-100=0.8 100) = luhere are standart normal variate and I UNCO/l) from the normal table we have M-100 z 0.85 (Abbron) = P(3 8 8 M n=loot 8X0.85 = 106.8

So setting of ity by the 106.8 days for 2 completion work will ensure that there are 80% chances that work will be completed. Probabil that the project described above it tore lifrin go tage ? solo we have to find P(X 290) = ? P(X290) = P(X-Y = 90-100) =P(3490-100)/8) =P(32-1.25) = 0.10565 Done #
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