Find the project probability distribution

Assignment Help Business Economics

Reference no: EM131809579

The construction time for a bridge depends on the weather. The project is expected to take 250 days if the weather is dry and hot. If the weather is damp and cool, the project is expected to take 350 days. Otherwise, it is expected to take 300 days. Historical data suggest that the probability of cool, damp weather is 30% and that of dry, hot weather is 20%. Find the project's probability distribution.

Reference no: EM131809579

Questions Cloud

What is the expected value for the annual savings : The high estimate of $40,000 has a probability of 0.2, and the low estimate of $20,000 has a probability of 0.30. What is the expected value for the annual savi

Calculate the probability distribution for next year : There is no recognizable pattern. Calculate the probability distribution for next year's discount rate

Prepare a term paper on speedmart : Prepare a term paper on Speedmart. Focus on Recommendation and Conclusion part

Classify each cost and its amount as either variable : Classify each cost and its amount as either variable or fixed and (b) either product or period

Find the project probability distribution : Historical data suggest that the probability of cool, damp weather is 30% and that of dry, hot weather is 20%. Find the project's probability distribution.

Why the coin does not land heads both times : Let O = { 0, 1, 2} be the outcome space in a model for tossing a coin twice and observing the total number of heads.

Prepare journal entries for the following given transactions : Prepare journal entries for the following transactions - Purchased $50,000 of direct materials on account. Direct Materials costing $45,000 were used for jobs

Responsibility to improve the execution focus : You have been entrusted with a responsibility to improve the execution focus of PMS in your organization.

Equivalent annual construction cost per mile : The state's interest rate is 8%, and the road should last 40 years. What is the probability distribution of the equivalent annual construction cost per mile?

User Account

All Pages