If we assume 617 squadron achieved 170yards/150meter CEP at 17000ft they would achieve significantly better at 16000ft and dramatically better at 12000ft.
But take the example of 32 bombs with a CEP of 170yard/150meters, 617's assumed CEP at 17000ft, and noting that each 50% reduction in radius would have 25% of the bombs.
A 16 bombs would be within 150m
B 4 bombs within 75m
C 1 bomb within 37.5m. Suggesting a high probability of a hit, greater than 50%, since the radius with an area equal to Tirpitz was around 45m.
These radii could be reduced about 6.5% for 16000ft as compared to 17000ft.
Using the cube law bombing at 12500ft as opposed to 17000ft should double accuracy but using a conservative linear approximation reduce CEP 12500ft/17000ft x 170yards = 125yards/112meters.
Lets run our calculation again, for 32 bombs dropped from 12500ft with a CEP of 112 meters.
A/ 16 bombs would fall within 112 meters
B/ 4 bombs would fall within 56 meters
C/ 1 bomb would fall within 27 meters, the Tirpitz can be assumed to have an area with a radius of 45 meters on the basis of its area.
If we consider the slight clustering effect and that the improvement between 17000ft and 12500ft was probably due to a cube law then the odds look quite good.