A new integrated computer system is to be installed

Reference no: EM13614163

A new integrated computer system is to be installed worldwide for a major corporation. Bids on this project are being solictied, and the contract will be awarded to one of the bidders. As a part of the proposal for this project, bidders must specify how long the project will take. There will be a significant penalty for finishing late. One potential contractor determines the average time to complete a project of this type is 40 weeks with a standard deviation of 5 weeks. The time required to complete this project is assumed to be normally distributed. If the bidder wishes to set the due date in the proposal so that there is only a 5% chance of being late (and consequently only a 5% chance of having to pay a penalty), what due date should be set?

(1) If the due date of this project is set at 40 weeks, what is the probability that the project will not be finished on schedule?

(2) If the due date of this project is set at 43 weeks, what is the probability that the contractor will not finish on time?

Reference no: EM13614163

Questions Cloud

Steam at 5 bar 320 c enters a steady state turbine with a : steam at 5 bar 320 c enters a steady state turbine with a volumetric flow rate of 0.65m3s and evpands adiabatically to

A 01 g honeybee acquires a charge of 20 pc while flying the : a 0.1 g honeybee acquires a charge of 20 pc while flying. the electric field near the surface of the earth is typically

A new integrated computer system is to be installed : a new integrated computer system is to be installed worldwide for a major corporation. bids on this project are being

An object is hanging by a string from the ceiling of an : an object is hanging by a string from the ceiling of an elevator. the elevator is moving upward with a constant speed.

A new integrated computer system is to be installed : a new integrated computer system is to be installed worldwide for a major corporation. bids on this project are being

A random sample of 175 students from a large suburban high : a recent survey reported that 38 of all students in grades 9 through 12 participate in team sports run by organizations

What is the angular separation between the red and violet : the index of refraction of silicate flint glass for red light is 1.620 and for violet light is 1.660. a beam of white

A force acts at the origin of a coordinate system in a : a force acts at the origin of a coordinate system in a direction defined by the angles qx 65.0deg and qz 69.7deg.

A recent political poll for a local election indicated that : a recent political poll for a local election indicated that 70 of the 250 voters sampled preferred candidate a.

User Account

All Pages