A construction company has to complete a project no later than 3 months from now or there will be significant cost overruns. The manager of the construction company believes that there are four possible values for the random variable X, the number of months from now it will take to complete this project: 2, 2.5, 3, 3.5. The manager currently thinks that the probabilities of these four possibilities are in the ratio 1 to 2 and 2 to 4. That is X = 2.5 is twice as likely as X = 2, and X = 3 is twice as likely as X = 2.5 and X = 3.5 is half as likely as X = 3. 1) Find the probability distribution of X. Hint: P(X = 2) = 0.111, P(X = 3) = 0.444
2) What is the probability that this project will not be completed on time?
3) What is the expected completion time in months?
4) How much variability (in months) exists around the expected value?

The expected completion time of this project from now is 2.5 months.

Step-by-step explanation:

To find the expected completion time for the project, we multiply each projection by it's probability.

We have that:

0.4 = 40% probability it takes 2 months to complete the project.

0.3 = 30% probability that it takes 2.5 months to complete the project.

0.2 = 20% probability it takes 3 months to complete the project.

0.1 = 10% probability it takes 3.5 months to complete the project.

What is the expected completion time (in months) of this project from now?

E = 0.4*2 + 0.3*2.5 + 0.2*3 + 0.1*3.5 = 2.5

The expected completion time of this project from now is 2.5 months

hi

Step-by-step explanation:

your answer is 23/2 - 13.5

step-by-step explanation:

7/2 evaluates to

multiply x and 4.5

multiply x and 1

the x just gets copied along.

the answer is x

x

4.5*x evaluates to 4.5x

multiply 3 and 4.5x

multiply 1 and x

the x just gets copied along.

x

4.5*x*3 evaluates to 13.5x

7/2-4.5*x*3 evaluates to

  + 8 =

the answer is

7/2-4.5*x*3+8 evaluates to

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.