In the Probabilistic Approach to Precedence Network Analysis,the Duration Estimate

question 62

Multiple Choice

In the probabilistic approach to precedence network analysis,the duration estimate that is given the highest weighting in calculating the expected duration for an activity is:

• A)duration of the immediately prior activity.
• B)duration of the immediately following activity.
• C)most likely duration.
• D)optimistic duration.
• E)pessimistic duration.

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Definitions:

Fixed Costs

Costs that do not change with the level of production or sales, such as rent, salaries, and insurance.

Profit

The difference between total revenue and total cost.

Yearly Return

The total gain or loss on an investment over a one-year period, expressed as a percentage of the investment’s initial cost.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and loan payments.