A Project Team Assigns Probabilities of 0

question 96

Multiple Choice

A project team assigns probabilities of 0.1,0.3,and 0.6 respectively to the maturity,complexity,and dependency categories.The probability of failure can be calculated as:

• A)0.02.
• B)0.45.
• C)0.33.
• D)0.57.

---

Definitions:

Total Spending

The aggregate amount of money spent by consumers, businesses, and the government in an economy over a specific period.

Inelastic

Characterizes a condition where a change in price leads to a relatively small change in the quantity demanded or supplied.

Price Elasticity of Demand

The responsiveness of the quantity demanded of a good to a change in its price, with all other factors being held constant.

Elastic

Describes a situation where the demand for a product significantly changes in response to changes in its price.