Consider a project that has an expected completion time of 60 weeks and a standard deviation of five weeks.What is the probability that the project is finished in 70 weeks or fewer? (Round to two decimals.)
A)0.98
B)0.48
C)0.50
D)0.02

Question

Quizplus · Accepted Answer

To find the probability that the project is finished in 70 weeks or fewer, we can use the Z-score formula: $Z = \frac{X - \mu}{\sigma}$, where $X$ is the value we're interested in (70 weeks), $\mu$ is the mean (60 weeks), and $\sigma$ is the standard deviation (5 weeks). Plugging in the values, we get $Z = \frac{70 - 60}{5} = 2$. Looking up a Z-score of 2 in a standard normal distribution table or using a calculator, we find that the area to the left (which represents the probability of finishing in 70 weeks or fewer) is approximately 0.9772, which rounds to 0.98. This means there's a 98% chance the project will be completed in 70 weeks or fewer.

Consider a Project That Has an Expected Completion Time of 60