Continuing the preceding problem, suppose that another key uncertain input is the development time, which is measured
Question:
a. Company experts believe the development time will be from 6 to 10 months, but they have absolutely no idea which of these will result.
b. Company experts believe the development time will be from 6 to 10 months. They believe the probabilities of these five possible values will increase linearly to a most likely value at 8 months and will then decrease linearly.
c. Company experts believe the development time will be from 6 to 10 months. They believe that
8 months is twice as likely as either 7 months or 9 months and that either of these latter possibilities is three times as likely as either 6 months or 10 months.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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