quiz 2 solutions

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Unformatted text preview: 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? P ( t ≤ 17) = P z ≤ = P [ z ≥ 2.0 ] = 0.97725 = 1− 1− 0.0228 17 – 21 = P [ z ≤ – 2.0 ] 2 2. What is the probability that the project will be completed in 20 months? P ( t ≤ 20 ) P z ≤ = = P [ z ≥ 0.5] = 0.69146 = 1− 1− 0.3085 20 − 21 = P [ z ≤ − 0.5] 2 3. What is the probability that the project will be completed in 23 months? P ( t ≤ 23) = P z ≤ 23 − 21 = P [ z ≤ 1.0 ] = 0.84134 2 Page 2 of 2 4. What is the probability that the project will be completed in 25 months? P ( t ≤ 25) = P z ≤ 25 − 21 = P [ z ≤ 2.0 ] = 0.97725 2 5. What is the due date that yields a 95% chance of completion? P z ≤ x − 21 2 1.645 for = a 95% chance of completion by the x date. x Then = 21 + 2(1.645) = 24.29, or 24 months. ...
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This note was uploaded on 05/13/2011 for the course BUSORG 1070 taught by Professor Scala during the Spring '11 term at Pittsburgh.

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quiz 2 solutions - Page 1 of 2

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