Worldwide for a major corporation


A new integrated computer system is to be installed worldwide for a major corporation. Bids on this project are being solictied, and the contract will be awarded to one of the bidders. As a part of the proposal for this project, bidders must specify how long the project will take. There will be a significant penalty for finishing late. One potential contractor determines the average time to complete a project of this type is 40 weeks with a standard deviation of 5 weeks. The time required to complete this project is assumed to be normally distributed. If the bidder wishes to set the due date in the proposal so that there is only a 5% chance of being late (and consequently only a 5% chance of having to pay a penalty), what due date should be set?

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Basic Statistics: Worldwide for a major corporation
Reference No:- TGS0840737

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