What is the probability that they will not be in violation

Reference no: EM13687812

Medco Construction Company builds medical buildings in lower income, urban areas. It is typically assumed that the construction time in days follows a normal distribution. The mean time for construction of a medical building is 100 days, and the variance is 400. Business has picked up for building such facilities as a result of changes in medical insurance requirements. The financial manager of Medco just signed a contract to complete construction on a building in 90 days. Failure to complete the medical facility in the contracted time (90 days) would result in severe penalties however the financial manager knew that Medco needed this contract in order to not go bankrupt.

1. What is the probability that they will not be in violation?

2. What is the probability that the triplex will take among 90 and 100 days?

3. What is the probability that Medco Construction will be in violation of their construction contract?

Reference no: EM13687812

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