An Activity Has an Optimistic Time Estimate of 15 Days,a

question 22

Multiple Choice

An activity has an optimistic time estimate of 15 days,a most likely estimate of 24 days,and a pessimistic estimate of 40 days.What is the expected duration of the activity?

• A)less than 27 days but greater than or equal to 26 days
• B)less than 26 days but greater than or equal to 25 days
• C)less than 25 days but greater than or equal to 24 days
• D)less than 24 days

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Definitions:

Saxony Carpet

A type of carpet known for its dense, soft pile, often used in residential settings for a luxurious appearance.

Option

A contract that grants the holder the right, but not the obligation, to buy or sell an asset at a designated price within a specified timeframe.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise which the promisee has relied upon to their detriment, in the absence of a formal contract.

Unilateral Contract

An agreement in which one party makes a promise, but the other party is not required to respond with a promise in return; performance is the only acceptance needed.