The Beta Distribution Is Used in Project Management to

question 74

Multiple Choice

The Beta distribution is used in project management to

• A) calculate slack on activities not on the critical path
• B) calculate the probability that a project will be completed within its budget
• C) calculate pessimistic and optimistic activity times
• D) determine which activity should be crashed
• E) none of the above

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Definitions:

Compounded Monthly

Compounded monthly refers to the process of adding interest to the principal sum of a loan or deposit, where the interest that accrues is calculated and added monthly, leading to exponential growth.

Retirement Savings

Money that has been saved and set aside for use in retirement, often accruing through investments like pensions, 401(k)s, or individual retirement accounts (IRAs).

Withdraw

The act of removing funds from an account or the cessation of an investment action.

Compounded Monthly

A method where interest earned is added to the principal, and future interest payments are calculated on the increased principal, with the process repeating each month.