Question: The maximum time to complete a task in a project is 2.5 days. Suppose that the completion time as a proportion of this maximum is

The maximum time to complete a task in a project is 2.5 days. Suppose that the completion time as a proportion of this maximum is a beta random variable with α = 3 and β = 2. What is the probability that the task requires more than 2 days to complete? (Note that α and β are different from your homework. With using the parameters of the homework problem, you would not earn any point.)

Step by Step Solution

3.58 Rating (159 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Let X denotes the time to complete as task in a project Since the ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1019-B-C-F-D-F(2238).docx

120 KBs Word File

Students Have Also Explored These Related Corporate Finance Questions!