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Amoy is the Project Manager of a project that must be completed by end of September 2024. The completion time for this kind of project is normally distributed, with an average of 15 months and a standard deviation of 3 months. Assuming that the project will start at the beginning of a month, what is the latest (month & year) can Amoy start this project to have a 95% certainty of meeting the September 2024 deadline? a Select one: a. February 2023 b. April 2023 c. December 2022 d. May 2023
Which one of the following represents a binomial random variable? Select one: O a. number of girls taller than 1.68 metres in a random sample b. time it takes a randomly selected student to complete a multiple choice exam O c. number of CDs a randomly selected person owns O d. number of randomly selected textbooks bought from 60 textbooks this term
The probability that a Jelani shops at Enterprise Cornershop (ES) is 0.34 and the chance of him paying with his credit card is 0.60. Jelani plans to shop at ES tomorrow, what is the probability (to 3 decimal places) he will pay by credit card, if the two evens are independent? Select one: a. 0.204 O b. 0.260 C. 0.567 d. 0.940
In probability theory, being able to calculate P(A/B) when P(B/A) is known is related to which of the following: Select one: a. Independent Probabilities O b. Classical Probability Theory O c. Bayes Theorem d. Posterior Probabilities
The following are properties of a set of random variables, EXCEPT: Select one: a. The sum of the associated probabilities is equal to 1. b. Can either be discrete or continuous. c. Value must be between 0 and 1. O d. The expected value can be calculated.
Which of the following would be valid in using Monte Carlo Simulation? 1. Relationship between the variables is nonlinear II. Conduct experiments without disrupting the real system III. Optimized solutions are obtained Select one: O a. I & Ill only O b. I & II only O c. I only O d. Ill only
A project has estimated optimistic (a), most likely (m) and pessimistic (b) times for activity D as 7, 8 and 14 days, respectively. What is the mean AND variance for activity D, respectively (to 1 decimal place): Select one: a. 8.8 and 1.2 b. 8.5 and 0.7 O c. 8.8 and 0.7 d. 9.7 and 1.4