Mathematics, 19.05.2020 16:57 khushboogarg3877

A construction company has to complete a project no later than 4 months from now or there will be significant cost overruns. The manager of the construction company believes that there are four possible values for the random variable X, the number of months from now it will take to complete this project: 2, 2.5, 3, and 3.5. It is currently believed that the probabilities of these four possibilities are .4, .3, .2, and .1, respectively. What is the expected completion time (in months) of this project from now?

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A construction company has to complete a project no later than 4 months from now or there will be si...