Given an Activity's Optimistic, Most Likely, and Pessimistic Time Estimates

question 88

Multiple Choice

Given an activity's optimistic, most likely, and pessimistic time estimates of 4, 6, and 14 days respectively, compute the PERT expected activity time for this activity.

• A)8
• B)6
• C)7
• D)9

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Definitions:

Standardized Good

a product that is produced to a set standard, making it interchangeable with similar products.

Economic Values

The worth of goods or services determined by the market, where price represents the quantity of resources people are willing to exchange for it.

Absolute Purchasing Power Parity

The economic theory that the price of a good should be the same in different countries when expressed in a common currency, accounting for exchange rates.

Trade Barriers

Measures implemented by a country to restrict or regulate international trade, including tariffs, quotas, and import bans.