Three Paths of a PERT Network Have These Mean Durations

question 3

Essay

Three paths of a PERT network have these mean durations and variances in weeks:
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Which path offers the greatest risk of overrunning a contract deadline of 48 weeks?

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Definitions:

Prepaid Insurance

Insurance premiums paid in advance by a company, recorded as an asset on the balance sheet until the coverage period comes into effect.

Depreciation Expense

The allocated portion of the cost of a company's fixed assets that is written off each year, reflecting the asset's usage and wear and tear.

Insurance Premium

The amount paid periodically to an insurance company by policyholders for covering their risk.

Income Statement

The income statement is a financial document that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.