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The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is       var(x) = 1.22   The project cost involves A fixed cost (in thousands of dollars) of     FC = $83.783   A variable cost for each day taken to complete the project ($000) VC = $9.774     14 The expected value of the project cost is $_______ thousand. a 109.364         b 112.746         c 116.233         d 119.828

The expected number of days to completion for a different project is E(x) = 3.32 The variance of days to completion is       var(x) = 1.22   The project cost involves A fixed cost (in thousands of dollars) of     FC = $83.783   A variable cost for each day taken to complete the project ($000) VC = $9.774     14 The expected value of the project cost is $_______ thousand. a 109.364         b 112.746         c 116.233         d 119.828

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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The expected number of days to completion for a different project is E(x) = 3.32
The variance of days to completion is       var(x) = 1.22  
The project cost involves
A fixed cost (in thousands of dollars) of     FC = $83.783  
A variable cost for each day taken to complete the project ($000) VC = $9.774  

 

14 The expected value of the project cost is $_______ thousand.
a 109.364        
b 112.746        
c 116.233        
d 119.828        
Expert Solution
Step 1

Given detail:

E(x)= 3.32Var(x)= 1.22Fixed cost= $83.783   Variable cost= $9.774   Project cost ( PC) = Fixed cost+ Variable cost = 83.783 +9.774 x

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