For Projects Whose Activities Have Probabilistic Time Estimates, the Probability

question 119

Multiple Choice

For projects whose activities have probabilistic time estimates, the probability of completing the project in a specified amount of time is determined by __________________________.

• A) the expected time for the critical path only
• B) the standard deviation for the critical path only
• C) the expected time and standard deviation for the critical path only
• D) the expected times for all paths
• E) the expected times and standard deviations for the critical path and paths whose expected times are close to that of the critical path

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Definitions:

Physical Capital

Tangible assets that are used in the production process, such as machinery, buildings, and equipment.

Technology

The application of scientific knowledge for practical purposes, especially in industry, where it affects methods of production, communication, and transportation.

Natural Resources

Materials or substances that occur in nature which can be utilized for economic gain, such as minerals, forests, water, and fertile land.

International Trade

The exchange of goods, services, and capital across international borders or territories, driven by comparative advantage.