A Simple Sequential Project (Each Task Must Be Completed Before

question 7

Multiple Choice

A simple sequential project (each task must be completed before the next one can begin) has the time estimates (in days) shown below: What is the expected total time for the project?

• A)7.33 days
• B)9.00 days
• C)10 days
• D)12.67 days

---

Definitions:

Fixed Costs

Business expenses that remain constant regardless of the level of production or sales, such as rent or salaries.

Average Total Cost

The total cost divided by the number of units produced, calculating the cost to produce an average unit of output.

Chairs

Objects designed for seating, typically consisting of a seat, back, legs, and sometimes armrests, used for various purposes including dining and office work.

MC

Short for Marginal Cost, it is the change in total cost that arises when the quantity produced is incremented by one unit; it is the cost of producing one more unit of a good.