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A Project Consists of Four Consecutive Tasks That Have Average

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A project consists of four consecutive tasks that have average duration and worst-case duration estimates (in days) as shown in the table.Use Newbold's model to determine the aggregated buffer of one standard deviation for this project.  Activity  Average  Worst-Case X1220Y2025W1424W1826\begin{array} { | l | l | l | } \text { Activity } & \text { Average } & \text { Worst-Case } \\\hline \mathrm { X } & 12 & 20 \\\hline \mathrm { Y } & 20 & 25 \\\hline \mathrm { W } & 14 & 24 \\\hline \mathrm { W } & 18 & 26 \\\hline\end{array}

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that a consumer can afford with their income level.

Prices

The price necessary to obtain a good, service, or piece of property.

Income

The money received by an individual or organization, typically measured on a regular basis, for work or through investments.

MRS of Pencils

The marginal rate of substitution of pencils, indicating how much of another good a consumer is willing to give up for one more pencil.

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