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quiz 2 solutions - Page 1 of 2 Name Quiz 2 BUSQOM 1070...

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Page 1 of 2 Name________________________________________________ Quiz 2 BUSQOM 1070, Spring 2011 Monday, January 24, 2011 Using PERT, Harold Benson was able to determine that the expected project completion time for the construction of a yacht is 21 months, and the project variance is 4. 1. What is the probability that the project will be completed in 17 months? ( ) [ ] [ ] 17 – 21 17 – 2.0 2 1 2.0 1 0.97725 0.0228 = = =− =− = P t P z P z P z 2. What is the probability that the project will be completed in 20 months? ( ) [ ] [ ] 20 21 20 0.5 2 1 0.5 1 0.69146 0.3085 P t P z P z P z = = ≤ − =− =− = 3. What is the probability that the project will be completed in 23 months?
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