Concept explainers
In cost estimation, the total cost of a project is the sum of component task costs. Each of these costs is a random variable with a probability distribution. It is customary to obtain information about the total cost distribution by adding together characteristics of the individual component cost distributions—this is called the “roll-up” procedure. For example, E(X1 +…+ Xn) = E(X1) 1…..+ E(Xn), so the roll-up procedure is valid for
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Probability and Statistics for Engineering and the Sciences
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