Explain the three time estimates used to characterize uncertainty of activity times in the Program Evaluation and Review Technique (PERT) procedure
When times are uncertain, they are often treated as random variables with associated probability distributions. Usually, three time estimates are obtained for each activity:
1 . Optimistic time (a): The activity time if everything progresses in an ideal manner;
2 . Most probable time (m): The most likely activity time under normal conditions;
3 . Pessimistic time (b)? The activity time if significant breakdowns and/or delays occur.
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