Which of the Following Statements Regarding PERT Times Is True

question 93

Multiple Choice

Which of the following statements regarding PERT times is true?

• A)The optimistic time estimate is an estimate of the minimum time an activity will require.
• B)The optimistic time estimate is an estimate of the maximum time an activity will require.
• C)The expected time estimate is calculated as t = (a + 4m + b).
• D)The pessimistic time estimate is an estimate of the minimum time an activity will require.
• E)The most likely time estimate is an estimate of the maximum time an activity will require.

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Definitions:

Utility Function

A mathematical representation of a consumer's preference ranking for various bundles of goods, used in economics to analyze consumer behavior.

Barbie's Preferences

This term does not reference a recognized economic concept, but could figuratively refer to a theoretical model of consumer choice or preference, using Barbie as an example.

Good 1

Good 1 typically refers to a specific item or product in economic models, representing a variable used to analyze various economic scenarios.

Price Elasticity

An indicator of the sensitivity of the demand for a product to shifts in its price.