# Question: Continuing the preceding problem suppose that another key uncertain input

Continuing the preceding problem, suppose that another key uncertain input is the development time, which is measured in an integer number of months. For each of the following scenarios, choose an appropriate distribution together with its parameters, justify your choice in words, and use @RISK to draw your chosen distribution.

a. Company experts believe the development time will be from 6 to 10 months, but they have absolutely no idea which of these will result.

b. Company experts believe the development time will be from 6 to 10 months. They believe the probabilities of these five possible values will increase linearly to a most likely value at 8 months and will then decrease linearly.

c. Company experts believe the development time will be from 6 to 10 months. They believe that

8 months is twice as likely as either 7 months or 9 months and that either of these latter possibilities is three times as likely as either 6 months or 10 months.

a. Company experts believe the development time will be from 6 to 10 months, but they have absolutely no idea which of these will result.

b. Company experts believe the development time will be from 6 to 10 months. They believe the probabilities of these five possible values will increase linearly to a most likely value at 8 months and will then decrease linearly.

c. Company experts believe the development time will be from 6 to 10 months. They believe that

8 months is twice as likely as either 7 months or 9 months and that either of these latter possibilities is three times as likely as either 6 months or 10 months.

## Answer to relevant Questions

Suppose you own an expensive car and purchase auto insurance. This insurance has a $1000 deductible, so that if you have an accident and the damage is less than $1000, you pay for it out of your pocket. However, if the ...If you add several normally distributed random numbers, the result is normally distributed, where the mean of the sum is the sum of the individual means, and the variance of the sum is the sum of the individual variances. ...When you use @RISK’s correlation feature to generate correlated random numbers, how can you verify that they are correlated? Try the following. Use the RISKCORRMAT function to generate two normally distributed random ...A new edition of a very popular textbook will be published a year from now. The publisher currently has 2000 copies on hand and is deciding whether to do another printing before the new edition comes out. The publisher ...In statistics we often use observed data to test a hypothesis about a population or populations. The basic method uses the observed data to calculate a test statistic (a single number), as discussed in Chapter 9. If the ...Post your question