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lilgunter12
lilgunter12
21.09.2021 • 
Mathematics

Assume that for this project to be completed, six independent tasks must be completed. These tasks are proceeding in parallel by six different subcontractors. To keep it simple, let's assume that each task takes between 3 and 7 months to complete (uniformly distributed, i.e. equally likely to take any amount of time between 3 and 7 months). So, the mean time to complete each task is 5 months and the probability of any given task taking 5 months or longer is 0.5. However, the project is NOT considered complete until ALL six tasks are complete. Conduct an Excel spreadsheet based simulation (As we did for the two dice experiment) with 100 experiments to answer the following questions: Use only RAND function (do not use RANDBETWEEN). Q1: What is the probability that the project finishes in 5 months or less

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