Hey colinb0.
The calculation is called a z-score calculation. The equation looks exactly like what you have shown in 1. except in general you have a variable mean and standard deviation instead of the specific one in your question.
The question is:
Determine the probability of that a project will be completed in 60 weeks or less.
Context: projects usually are 60wks with a standard deviation of 10 weeks assume that times are normally distributed.
My question:
1, how is this question answered, and is it as I have set out - z= the expected outcome (60) minus the sample mean (60) divided by the standard deviation (10). is the answer 0 or z (50%)
2, what is this calculation called i.e. a discrete independent or ??
3, what should the calculation or/and equation look like.
Many thanks for you help in advance
Colin
Hey colinb0.
The calculation is called a z-score calculation. The equation looks exactly like what you have shown in 1. except in general you have a variable mean and standard deviation instead of the specific one in your question.