In the Probabilistic Approach to Project Network Analysis, the Time

question 41

Multiple Choice

In the probabilistic approach to project network analysis, the time estimate annotated tm for any activity is the:

• A) mean time.
• B) median time.
• C) most likely timE.
• D) mode time.
• E) marginal time.

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Definitions:

Strict Preference

An economic term indicating a consumer's stronger liking for one option over another, with no indifference between the two.

Convex Preferences

In consumer theory, a situation where the consumer prefers an average of two goods or bundles to either one of the extremes, indicating a desire for diversified choices.

Midterm Examinations

Exams given roughly halfway through an academic term to assess students' understanding of the course material.

Centered

In statistics, adjusting data values by subtracting the mean of the data set from each value to have an average of zero.