Which of the Following Distributions Has Mean Which Is Equal

question 3

Multiple Choice

Which of the following distributions has mean which is equal to (a + 4b +c) / 6 where a, b, and c are denote optimistic, most likely, and pessimistic estimates respectively?:

• A) Discrete Distribution
• B) Normal Distribution
• C) Pert Distribution
• D) Triangular Distribution
• E) Binomial Distribution

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Definitions:

Raise Price

The act of increasing the cost at which a good or service is sold, which can affect demand, revenue, and profit margins.

Lose Sales

The phenomenon of experiencing a reduction in the number of units sold or in total revenue.

Competitive Price-searcher

A market condition where businesses actively seek to determine the optimal pricing of their goods or services relative to their competitors to gain market share.

Entry Barriers

Obstacles that make it difficult for new competitors to enter a market.