For a Project with Uncertain Activity Times, the Probability of Project

question 20

Multiple Choice

For a project with uncertain activity times, the probability of project completion exceeding the expected time calculated for the critical path is:

• A) 25 percent.
• B) 50 percent.
• C) 75 percent.
• D) none of the above.

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Definitions:

Valid Contract

A contract that results when the elements necessary for contract formation (agreement, consideration, contractual capacity, and legality) are present.

Unilateral Contract

A contract that results when an offer can be accepted only by the offeree’s performance.

Lottery Ticket

A ticket purchased for the chance to win prizes in a lottery, typically involving the selection of numbers for a potential cash or goods award.

Lacks Voluntary Consent

A situation where agreement or permission is given under duress, coercion, or misinformation, undermining the validity of a contract or decision.