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The time taken by an activity in a project network follows a distribution with a standard deviation of one sixth of the range, approximately.

The 3 estimates of time are such that

Therefore the range for the time estimate is

The time taken by an activity in a project network follows a distribution with a standard deviation of one sixth of the range, approximately.

Two experts A and B examined an activity and arrived at the following time estimates.

So, the
variance is less in the case of A. Hence, it is concluded that the expert A is
more certain about his estimates of time.

Tags : Operations Management - Network Problems

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