Consider the Following Work Breakdown Structure What Is the Estimated Expected (Mean) Time (In Weeks) for Duration

question 37

Short Answer

Consider the following work breakdown structure: $\begin{array}{r} \text { Duration Estimate (Days) }\quad \quad \quad \quad \\\begin{array}{lccccc} & \text { Start } & \text { Finish } \\\text { Activity } & \text { Node } & \text { Node } & \text { Optimistic } & \text { Most Likely } & \text { Pessimistic } \\\hline \text { A } & 1 & 2 & 9 & 15 & 21 \\\text { B } & 1 & 3 & 13 & 21 & 23 \\\text { C } & 2 & 4 & 6 & 9 & 18 \\\text { D } & 2 & 5 & 23 & 35 & 47 \\\text { E } & 3 & 5 & 19 & 26 & 27 \\\text { F } & 4 & 6 & 23 & 29 & 41 \\\text { G } & 5 & 6 & 14 & 20 & 26 \\\text { H } & 6 & 7 & 2 & 5 & 8\end{array}\end{array}$ What is the estimated expected (mean) time (in weeks) for project completion?

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Definitions:

Absorption Costing

An accounting method that includes all direct costs and allocated indirect costs (both fixed and variable) in the cost of a product.

Variable Costing

An accounting method that includes only variable costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of goods sold and excludes fixed manufacturing overhead.

Variable Costing

This accounting method includes only variable costs - costs that vary with production level - in the calculation of the cost of goods sold.

Unit Product Cost

The total cost associated with creating one unit of product, including materials, labor, and overhead.