The Expected Time in PERT Is

question 103

Multiple Choice

The expected time in PERT is

• A)a weighted average of the most optimistic time,most pessimistic time,and four times the most likely time.
• B)the modal time of a beta distribution.
• C)a simple average of the most optimistic,most likely,and most pessimistic times.
• D)the square root of the sum of the variances of the activities on the critical path.
• E)None of the above

---

Definitions:

Single-Price Monopoly

A monopolistic market structure where the monopolist charges the same price for every unit of the product sold to every consumer.

Economically Inefficient

A situation where resources are not used in the most productive way, leading to wasted potential output or outcomes.

Profit-Maximizing Output

The level of production at which a business achieves the highest possible profit, where marginal cost equals marginal revenue.

Marginal Revenue

Marginal Revenue is the increase in income generated from the sale of one additional unit of a product or service, crucial for determining the optimal level of output for a firm.