Table 7.14 You Are Responsible for Managing a Project with the Following

question 116

Multiple Choice

Table 7.14
You are responsible for managing a project with the following activities (times are given in weeks) .

-Using Table 7.14, what is the probability that the project will take 16 or more weeks to complete?

• A) less than or equal to 20%
• B) greater than 20% but less than or equal to 25%
• C) greater than 25% but less than or equal to 30%
• D) greater than 30%

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Definitions:

Average Daily Receipts

The average amount of cash received by a business on a daily basis, calculated over a specific period of time.

Collection Delay

The lag between the time when a payment is made by a customer and when the funds are actually available for use by the recipient.

Average Daily Float

The average amount of time it takes for checks or other transactions to clear and be reflected in the available balance of an account.

Collection Delay

The period between when a sale is made and when the payment is actually received.