A Local Branch Of A Prominent Consulting Company Nckinsey Company Is Trying To Bid For Two Major Projects For This Qu 1 (173.95 KiB) Viewed 41 times
A local branch of a prominent consulting company, Nckinsey & Company is trying to bid for two major projects for this quarter. Competition is fierce in the local market and other companies such as Hartford Consulting Group and WT Money are also bidding. The chief principal of the branch assumes that, for each potential project, the chance that Nckinsey&Co will win the contract is 45%, and the bidding outcomes of different projects are independent. Each winning project can generate significant revenue (a fixed award and incentives combined) for the local branch: The revenue from each project is normally distributed with mean $4.0 million and standard deviation $1 million, and the revenue from one project is independent of the revenue from another project. For this upcoming quarter, no other projects are in sight for the company. Use this information to answer questions 29 to 31 below. . Suppose that Nckinsey&Co. has won both contracts. Then, what is the probability that their quarterly revenue will exceed $ 5.25 million ? (a) 0.0259 (b) 0.1056 (c) 0.1883 (d) 0.9741 . Now suppose Nckinsey does not know how many projects it will win. What is the probability that the quarterly revenue of the branch exceeds 5.25 million? (a) 0.1056 (b) 0.2496 (c) 0.5399 (d) 0.9741
Again assuming that Nckinsey does not know how many projects it will win, what is the quarterly revenue that the local branch is expected to generate in this quarter? (a) $ 3.6 million (b) $4.0 million (c) $ 6.0 million (d) $ 8.0 million
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