## (Solved by Expert Tutors)Question 6: A contractor estimates the probabilities for the number of day

Question 6: A contractor estimates the probabilities for the number of days to complete a certain type of construction project as follows:

 Time (days) 1 2 3 4 Probability c 0.25 c c/2

where c is a constant, c > 0. It takes at least 1 day and at most 4 days to complete a project of this type.

Let X be a random variable that indicates a number of days to complete a project. Find a constant c so that X has a proper pdf and answer the following questions using the number you found.

What is the probability that a randomly chosen project takes at least 3 days to complete?

Find the expected time to complete the project? Find the standard deviation of time required to complete the project?

The contractor?s project cost is made up of two parts ? a fixed cost of \$30,000, plus \$2,000 for each day taken to complete the project. Find the expected value and standard deviation of total project cost.

If three projects are undertaken, what is the probability that none of them will take more than two days to complete, assuming independence of individual project completion times?

Solution details:

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Apr 19, 2020

EXPERT

Tutor

ANSWER RATING

#### YES, THIS IS LEGAL

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

• As a reference for in-depth understanding of the subject.
• As a source of ideas / reasoning for your own research (if properly referenced)
• For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

### Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE. 