Homework Clinic
Social Science Clinic => Business => Management => Topic started by: pepyto on Apr 18, 2020
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When using the beta distribution for estimating activity times:
◦ the most likely time estimate can be positioned anywhere between the optimistic and pessimistic time estimates.
◦ we assume that the standard deviation is one-third the range between the optimistic and pessimistic time estimates.
◦ the most likely time estimate becomes the mean of the distribution.
◦ an advantage is that the mode of the distribution is always equidistant from the end points of the distribution.
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the most likely time estimate can be positioned anywhere between the optimistic and pessimistic time estimates.
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Thank You