A Simple Sequential Project (Each Task Must Be Completed Before

question 32

Multiple Choice

A simple sequential project (each task must be completed before the next one can begin) has the time estimates (in days) shown below: What is the expected total time for the project?

• A)7.33 days
• B)9.00 days
• C)10 days
• D)12.67 days

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Definitions:

Fixed Proportions

A production process condition where inputs must be used in strict, unchangeable ratios to produce an output; no substitution between inputs is possible.

Utility Function

An economic term describing how different goods or services yield different levels of satisfaction or utility to a consumer.

Units

Refers to the individual or measurable components that can be sold, used, or accounted for, in various contexts such as production, inventory, or measurement standards.

Utility Function

A mathematical representation of a consumer's preference ordering over a set of goods and services, showing the satisfaction level from consumption.