Business, 21.01.2021 22:20 codycollier

A new integrated computer system is to be installed worldwide for a major corporation. Bids on this project are being solicited, and the contract will be awarded to one of the bidders. As a part of the pro-posal for this project, bidders must specify how long the project will take. There will be a significant pen-alty for finishing late. One potential contractor de-termines that the average time to complete a project of this type is 40 weeks with a standard deviation of 5 weeks. The time required to complete this project is assumed to be normally distributed. (a) If the due date of this project is set at 40 weeks, what is the probability that the contractor will have to pay a penalty (i. e., the project will not be finished on schedule)

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A new integrated computer system is to be installed worldwide for a major corporation. Bids on this...

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