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?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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

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