Your company is considering submitting a bid on a major project. You determine that the expected completion time is 100 weeks and the standard deviation is 10 weeks. It is assumed that the normal distribution applies. You wish to set the due date for the project such that there is an 85 percent chance that the project will be finished by this time. What due date should be set

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Business

Kyle Collins

28 May, 23:23

Your company is considering submitting a bid on a major project. You determine that the expected completion time is 100 weeks and the standard deviation is 10 weeks. It is assumed that the normal distribution applies. You wish to set the due date for the project such that there is an 85 percent chance that the project will be finished by this time. What due date should be set

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Emmanuel Ramirez · Answer 1

Due date to be set is 110 weeks

Explanation:

Expected completion time = 100 weeks

Standard deviation, s = 10 weeks

P (x
P (Z< (k-u) / s) = 0.85

from the standard normal distribution table 0.85 = P (Z<1.037)

(k-u) / s = 1.307

k = 110.37 weeks