Question: Given an expected project completion time of 26 weeks and a project variance of 8 weeks, what is the approximate probability of completing the project

Given an expected project completion time of 26 weeks and a project variance of 8 weeks, what is the approximate probability of completing the project within 24 weeks? Pick the closest answer from provided options.

Normal distribution table is available on BB/Course Documents, if required - can also be googled or computed using Excel

Z=(Tc - Te)/Project std deviation, where Tc = desired project completion time; Te = expected project completion time;

Std deviation = Sq root of Variance

		0.7600
		0.3460
		0.2406
		0.2206

Which of the following graphs correctly portrays the relationship between ordering cost per year ( y-axis) and order quantity ( x-axis) according to the economic order quantity model?

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