22. Milwaukee Paper is engaged in a major project installing computerized air po

Question

22. Milwaukee Paper is engaged in a major project installing computerized air pollution control equipment in it's paper production facility. It is critical that the project completion time denoted by the random variable T be estimated. The project team has determined the following information: (5 points) Expected date of completion: TE-15 weeks (This is the average value of T, i.e., E(T) = T) Estimated standard deviation: Op-1.76 weeks Assuming that T is distributed normally with mean Te 15 and standard deviation op 1.76, find the probability of completing the project in 16 weeks. Show all wor including inequality algebra converting T to Z. You must draw the parent Normal- Distribution and the N(0,1) Distribution labeling all probabilities and axis points. Start with P(T

Explanation / Answer

For 16 weeks, x = 16

Expected date of completion, ? = 15 weeks

Estimated Standard deviation, ? = 1.76 weeks

Standard normal variate, Z = (x-?)/? = (16-15)/1.76 = 0.5682

Probability (T<16) = NORMSDIST(0.5682) = 0.715

Probability of completing the project in 16 weeks = 71.5 %

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