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What does this mean in PERT ANALYSIS: most optimistic estimate (O), a most likely estimate (M), and a pessimistic estimate (least likely estimate (L) I

What does this mean in PERT ANALYSIS:

most optimistic estimate (O), a most likely estimate (M), and a pessimistic estimate (least likely estimate (L)

I know its a time estimate so what should I put for each: days or weeks?

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