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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.)        What is the probability that the project described above is done within 90 days?

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.)        What is the probability that the project described above is done within 90 days?

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.3: Special Probability Density Functions
Problem 53E
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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.)        What is the probability that the project described above is done within 90 days?

 

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