What is the probability of overrunning the poe
In performing a symmetric approximation, you calculate a mean of the total system cost as $1,725K. The variance is 22500. The POE is $1,600K. What is the probability of overrunning the POE?
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If the probabilities of occurrence of the futures are 30%, 50% and 20% respectively which alternative is most desirable from an expected cost viewpoint.
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