Senior management is scheduled to review the labor estimate for developing softw

Question

Senior management is scheduled to review the labor estimate for developing software for Xi. The project manager requested an analysis of past performance. The assigned analyst compared the actual labor with the initial estimate for the 30 most recent projects. The results. X= actual - estimate (in thousands of hours), are as follows: If X has a normal probability distribution. Estimate the probability that the current labor estimate will be exceeded i e., the project will experience an overrun How much would the estimate need to be changed so that there is a 50% chance of overrun? A 10% chance?

Explanation / Answer

c)

i ) P( x > 30)

P( z > 30-7.19 /5.59 )

P( z> 4.08 ) = 0.000005

ii)

P( z > z) = 0.50

z = 0.00

0.00 = ( x - 7.19 / 5.59 )

x = 7.19

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.