A Project Being Analyzed by PERT Has 60 Activities, 13

question 58

Multiple Choice

A project being analyzed by PERT has 60 activities, 13 of which are on the critical path. If the estimated time along the critical path is 214 days with a project variance of 100, what is the probability that the project will take less than 224 days to complete?

• A) near zero
• B) 0.0126
• C) 0.1587
• D) 0.8413
• E) 2.14

---

Definitions:

Financial Statements

Reports that summarize the financial performance and condition of a company, including the balance sheet, income statement, and cash flow statement.

Average cost

The total cost of goods divided by the number of goods, used in inventory valuation and determining profit margins.

Periodic inventory system

A periodic inventory system is a method of inventory valuation where the inventory is updated and cost of goods sold is calculated at the end of a specific accounting period.

Ending inventory

The total value of all the goods still available for sale at the end of an accounting period.