Converting z values to probabilities

A c value may he converted to the probability of not meeting the target date by using the graph in Figure 7.5.

This graph is the equivalent of tables of z values, also known as standard normal deviates, which may be found in most statistics textbooks

Figure 7.5 The probability of obtaining a value within z standanl deviations of the mean for a normal distribution.

Figure 7.5 The probability of obtaining a value within z standanl deviations of the mean for a normal distribution.

Exercise 7.8 The z value for the project completion (event 6) is 1.23. Using l;igure 7.5 we can see that this equates to a probability of approximately 11%. that is. there is an 11% risk of not meeting the target date of the end of week 15.

Find the probabilities of not achieving events 4 or 5 by their target dates of the end of week 10.

What is the likelihood of completing the project by w eek 14?

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