Question: 8.25 The average time taken to complete a project in a real estate company is 18 months, with a standard deviation of 3 months. Assuming

8.25 The average time taken to complete a project in a real estate company is 18 months, with a standard deviation of 3 months. Assuming that the project completion time approximately follows a normal distribution, find

(a) the probability that the mean completion time of 4 such projects falls between 16 and 19 months;

(b) The value of ¯x to the right of which 20% of the means computed from a random sample of size 5 would fall.

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