The Beta Distribution Is Used in Project Management to

question 74

Multiple Choice

The Beta distribution is used in project management to

• A) calculate slack on activities not on the critical path
• B) calculate the probability that a project will be completed within its budget
• C) calculate pessimistic and optimistic activity times
• D) determine which activity should be crashed
• E) none of the above

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Definitions:

Money

A medium of exchange, a unit of account, and a store of value, used to facilitate the sale, purchase, or trade of goods and services.

Zero-Sum Game

A situation in economic theory where one participant's gains result entirely from another participant's equivalent losses.

Exploitation

The act of using someone or something unfairly for one's own advantage, often without proper compensation.

Barter

The direct exchange of goods or services for other goods or services without the use of money.