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Flauer [41]
3 years ago
8

The result of your Monte Carlo simulation for the Present Worth of a project is a normal distribution with a mean of $575,234 an

d a standard deviation of $10,245. If your boss tells you that in order to be successful, the Present Worth needs to exceed $560,000. What is the chance that the project will NOT succeed
Business
1 answer:
sveticcg [70]3 years ago
7 0

Answer:

6.85%

Explanation:

Mean = 575,234

Standard deviation = 10,245

Project will be successful when PV > 560,000

For not getting success, PV < 560,000

P (X < 560,000) = <em>P </em>(Z < (560,000-575,234)/10,245)

P (X < 560,000) = <em>P </em>(Z < -1.48697)

P (X < 560,000) = 0.0685

P (X < 560,000) = 6.85%

Therefore, the chance that the project will NOT succeed is 6.85%

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