Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Irganization prefers pessimistic estimates to optimitics ones when looking at the probability, The more pessimistic your estimate the less risk that will be involved. The

Irganization prefers pessimistic estimates to optimitics ones when looking at the probability, The more pessimistic your estimate the less risk that will be involved. The optimistic cost for a project is $6,000. The pessimistic cost estimate is $24,000 and the most likely cost is $12,000. The project uses 3 sigma estimates. Using PERT what is the range of this estimate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Biostatistics

Authors: Bernard Rosner

8th Edition

130526892X, 978-1305465510, 1305465512, 978-1305268920

Students also viewed these General Management questions