Activity E Has an Optimistic Time of 9 Days, a Most

question 6

Essay

Activity E has an optimistic time of 9 days, a most likely time of 12 days, and a pessimistic time of 15 days. Estimate its expected time and standard deviation.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the accounting books but have not yet been cashed or cleared by the bank.

Non-Sufficient Funds

A situation where a bank account does not have enough money to cover a transaction, resulting in a failed payment.

Outstanding Checks

Checks that have been issued by a company but have not yet been cashed or cleared by the bank upon which they are drawn.

Bank Statement

A monthly report from a bank that shows deposits recorded, checks cleared, other debits and credits, and a running bank balance. This same information is available on a daily basis from the bank’s online banking site.