The Basis for Use of the Beta Distribution in PERT

question 29

Multiple Choice

The basis for use of the beta distribution in PERT is:

• A) essentially theoretical.
• B) its features that make it attractive in practicE.
• C) its symmetry.
• D) It is bimodal.
• E) It can easily be converted to a normal distribution.

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Definitions:

Bananas

A tropical fruit with soft, creamy flesh, protected by a yellow or green peel, widely consumed worldwide and rich in nutrients.

Utility Function

A mathematical model representing consumer preferences, used to explain how consumers allocate their spending.

Budget Constraint

Represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Income

The monetary payment received for goods or services, or from investments, typically measured per period like annually or monthly.