How Does a PERT Chart Work? What Is the "Critical

question 106

Essay

How does a PERT chart work? What is the "critical path" on a PERT diagram? Why is it important to monitor the activities on the critical path?

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Definitions:

Equal Variances

An assumption in some statistical tests that the variances in the groups being compared are similar.

Normally Distributed

A symmetric probability distribution centered around the mean, demonstrating that occurrences near the mean happen more often than those at a distance.

Population Variances

A measure of how data points in a population are spread out, indicating the variability of the entire population.

Confidence Interval Estimate

An interval estimate is a range of values used to estimate a population parameter, typically defined by two numbers between which a population parameter is said to lie with a certain level of confidence.