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The diagram below shows the probability (vertical axis) of completing a project at a cost not exceeding the cost shown on the horizontal axis. What
The diagram below shows the probability (vertical axis) of completing a project at a cost not exceeding the cost shown on the horizontal axis. What is the probability (roughly) of completing the project at a cost not exceeding $ 2.4 million?
Range of Uncertainty 100 100 90 90 80 85% Chance 80 Expected of Costing 70 Value $2.45M or Less 70 $2.35M 60 Cumulative Probably (9%) 50 Target 50 Cumulative Probability (6) $2.2M 40 40 23% Chance of Meeting 30 Target 30 20 20 10 10 0 0 $2.0M $2.1M $2.2M $2.3M $2.4M $2.5M $2.6M $2.7M $2.8M Predicted Total Project CostStep by Step Solution
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