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The Symbol "X" Is Used to Denote the Random Variable

question 30

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The symbol "x" is used to denote the random variable while the symbol "P(x)" is used to denote the probabilities associated with the random variable.

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Definitions:

Crash Duration

The shortest possible time for which an activity or project phase can be scheduled after allocating the maximum amount of resources.

Total Cost

The complete cost of producing or acquiring goods or services, including variable costs, fixed costs, and any other relevant expenses.

Network Diagram

A visual representation of a project's activities and their interdependencies, often used to plan and monitor project timelines.

Expected Duration

The anticipated amount of time which will elapse before a particular project or activity is completed.

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