The Weighted Average of All Possible Outcomes of a Project

question 9

Multiple Choice

The weighted average of all possible outcomes of a project, with the probabilities of the outcomes used as weights, is known as the:

• A) variance.
• B) standard deviation.
• C) expected value.
• D) coefficient of variation.

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Definitions:

Intuition

Intuition is the ability to understand or know something immediately, based on feelings rather than conscious reasoning or factual evidence.

Gut-Level

A response or reaction based on instinctive emotional feelings rather than considered thought.

Employment Decisions

The process of making choices related to hiring, retaining, promoting, and terminating employees within an organization, based on factors like skills, performance, and organizational needs.

Hindsight Bias

The predisposition to claim that, had one known, the result of an event could have been foreseen or expected.