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A Disadvantage of Using Beta Distribution to Approximate Activity Times

question 54

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A disadvantage of using beta distribution to approximate activity times is that it is generally less flexible than the normal distribution.


Definitions:

Accrued Interest

Interest that has been incurred but not yet paid.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Sale Received

Sale Received refers to the total amount of money obtained from the sale of goods or services before any deductions or returns.

Purchase Cost

The total amount expended to acquire a good or service, including the item's price and additional charges related to procurement.

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