An experienced senior employee estimates that assembling a toy hovercraft from scratch would cost $285. Another employee provides $320 as an estimate taking into account all identified risks associated with the assembly. An enthusiastic employee has done additional research and found that if everything goes smoothly (i.e. no risks materializing) the assembly may cost $100 dollars less than the provided estimate with risks.

• Using three-point cost estimating (both triangular and beta distribution), provide cost estimates for assembling a toy hovercraft. Show all your work in the space below.

Optimistic cE:

Pessimistic cE:

Most likely cE:

Three-point cost estimate (triangular distribution):

Three-point cost estimate (beta distribution):

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