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:

Marginal Social Benefit

The supplementary advantage to society from the production or utilization of an additional unit of a product or service.

Pollution

The introduction of harmful substances or products into the environment, causing adverse effects on living beings and ecosystems.

Marginal Social Cost

The additional cost to society as a whole of producing one extra unit of a good or service.

Too Little

A situation where the quantity or amount available or supplied is insufficient to meet demand or requirements.