Joe's contractor, the mall manager, and Apricot Telecom have each estimated the completion time to set Joe up for business. Their estimates are 3 weeks, 36 days, and a month respectively.
Calculate the probability that Joe will not be able to open his store in 5 weeks. Clearly state your assumptions.
Assumptions: 1 week = 7 days, 1 month = 30 days
Assumption: the distribution of estimates is normal.
The average time to ...
Solution explains the steps in finding out the probability of Joe's not opening the store in 5 weeks considering the estimates given by contractor, Mall manager and Apricot telecom.