Your company is considering submitting a bid on a major project.You determine that the expected completion time is 100 weeks and the standard deviation is 10 weeks.It is assumed that the normal distribution applies.You wish to set the due date for the project such that there is an 85 percent chance that the project will be finished by this time.What due date should be set?
A)108.0
B)110.4
C)89.6
D)85.0
E)100

Question

Quizplus · Accepted Answer

Using the normal distribution, we can find the z-score that corresponds to the 85th percentile by using the standard normal table or calculator. The z-score corresponding to the 85th percentile is 1.44.

We then use the formula: due date = expected completion time + (z-score * standard deviation) 
due date = 100 + (1.44 * 10) 
due date = 110.4

Therefore, the due date that should be set is 110.4 weeks.

Your Company Is Considering Submitting a Bid on a Major