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Table 9-6
Output per hour Production and Production
of work Consumption without Trade with Trade
Denmark and Belize can produce both clocks and hats.Each country has a total of 200 available labor hours for the production of clocks and hats.Table 9-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade.
-Refer to Table 9-6.With trade, what is the total gain in clock production?
Activity Times
Duration estimates for how long individual tasks within a project or process will take to complete.
PERT Times
Estimated durations for activities involved in a project, used in the Program Evaluation and Review Technique for planning and scheduling.
Optimistic Time
The “best” activity completion time that could be obtained in a PERT network.
Probable Time
An estimate of the amount of time that might reasonably be expected to be needed to complete a specific task or project.
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