An Activity in a Network Diagram Has an Optimistic Time

question 13

Multiple Choice

An activity in a network diagram has an optimistic time estimate of seven days, a most likely time estimate of 11 days, and a pessimistic time estimate of 19 days. Its variance is _________.

• A) 2
• B) 4
• C) 6
• D) 12
• E) 24

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Definitions:

Comparative Advantage

is the economic theory that a country should specialize in producing and exporting goods and services for which it has the lowest opportunity cost.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Marginal Costs

The additional cost incurred when producing one more unit of a particular good or service.

Trading Partner

A country or organization that engages in import or export transactions with another entity, indicating a regular commercial relationship.