Time taken by the crew, of a company, to construct a small bridge is a normal variate with mean 400 labour hours and standard deviation of 100 labour hours. (i) What is the probability that the bridge gets constructed between 350 to 450 labour hours? (ii) If the company promises to construct the bridge in 450 labour hours or less and agrees to pay a penalty of dollar 100 for each labour hour spent in excess of 450, what is the probability that the company pays a penalty of at least dollar 2000 ?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Time taken by the crew, of a company, to
construct a small bridge is a normal variate
with mean 400 labour hours and standard
deviation of 100 labour hours.
(i) What is the probability that the bridge gets
constructed between 350 to 450 labour
hours?
(ii) If the company promises to construct the
bridge in 450 labour hours or less and agrees
to pay a penalty of dollar 100 for each labour
hour spent in excess of 450, what is the
probability that the company pays a penalty of
at least dollar 2000 ?
Transcribed Image Text:Time taken by the crew, of a company, to construct a small bridge is a normal variate with mean 400 labour hours and standard deviation of 100 labour hours. (i) What is the probability that the bridge gets constructed between 350 to 450 labour hours? (ii) If the company promises to construct the bridge in 450 labour hours or less and agrees to pay a penalty of dollar 100 for each labour hour spent in excess of 450, what is the probability that the company pays a penalty of at least dollar 2000 ?
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