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The Most Pessimistic Time for a Task Is 28 Days

question 76

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The most pessimistic time for a task is 28 days.The most optimistic time for the same task is one fourth of the pessimistic time.Calculate the variance for the duration of the activity.


Definitions:

Warehouse Receipts

Documents that provide proof of ownership of commodities that are stored in a warehouse for protection and future sale.

Cross-Hedging

A strategy used to manage risk by hedging a position in one asset with a position in another asset that has a similar price movement but is not identical.

Bauxite

The primary ore of aluminum, consisting primarily of aluminum oxide minerals, clay minerals, and insoluble materials.

Aluminum Ore

The natural mineral compound from which aluminum is extracted, primarily bauxite.

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