Easy Points...Must Answer question though!
1 answer:
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<h2>Answer with explanation:</h2>
Given : The critical path for the project has an expected duration of 112 days, and a standard deviation of 5 days.
i.e.
We assume that this a normal distribution.
Let x be the random variable that represents the time duration to complete the project.
z-score :
For x= 115
P-value :
Thus, the probability of finishing on time if the due date is 115 days is 0.726.
Also, for x= 120
P-value :
Hence, the probability that they will have to pay the penalty is 0.055 .