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What is the expected activity cost for a project having a most likely cost of $140, a best case scenario of $115, and a worst case scenario of $165?
Suggested Answer: D
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39 comments · newest first
CE
Ceola
11 months ago
I agree, $140 seems like the right pick.
WI
Wilson
11 months ago
Wait, is $115 really the best case? Seems low!
LU
Luis
11 months ago
Definitely not $165, that's way too high!
RO
Rosendo
12 months ago
I think it's closer to $138 based on the scenarios.
LA
Latosha
12 months ago
The most likely cost is $140.
XE
Xenia
12 months ago
I’m a bit confused about the options. I thought the expected cost would be calculated differently, but I can't recall the exact formula.
BE
Bernardo
1 year ago
I feel like the expected cost should be lower than the most likely cost since we have a best case scenario. Maybe it's closer to $138?
BE
Bettyann
1 year ago
I remember a similar question where we had to find an expected value using best, worst, and most likely costs. I think the answer was around the most likely cost.
BU
Bulah
1 year ago
I think we might need to use a weighted average for this, but I'm not completely sure how to calculate it.
DI
Diane
1 year ago
I think the key here is to use the formula for expected value, which is (best + worst + most likely) / 3. Let me work through that step-by-step.
NI
Nichelle
1 year ago
Easy peasy! The expected value is just the most likely cost, which is $140. No need to overthink it.
CO
Coral
1 year ago
I'm not sure about this one. I know there's a formula for expected value, but I can't remember it off the top of my head. I'll have to review my notes.
MI
Miesha
1 year ago
Okay, I've got this. The expected value is the average of the best, worst, and most likely costs. So the answer should be (115 + 165 + 140) / 3 = $138.
GI
Gilbert
1 year ago
Hmm, this looks like a tricky one. I'll need to think through the formula for expected value to solve this.
SH
Sharmaine
1 year ago
Hmm, I'm not totally sure about this one. Is it trying to minimize capital expenses or operating expenses? I'll have to think it through carefully.
LE
Lenora
1 year ago
Okay, I've got this. The two features are the placement class tag and SmartTier management at file level. Easy peasy!
TR
Tracey
1 year ago
Okay, I remember learning about risk pooling in class. I think the key is that aggregate demand is more accurate than disaggregate demand.
JU
Julene
1 year ago
I practiced some questions around IT governance, and I feel like a reduction in governance overhead (option C) is actually a positive outcome.
NI
Nickole
1 year ago
I believe "exploratory" analysis is used for examining scenarios without specific outcomes, so I'm leaning towards "deterministic."
RE
Reuben
1 year ago
I don't know about you, but I'm feeling a bit 'cost-conscious' today. Maybe we should just flip a coin and call it a day?
RO
Ronald
1 year ago
I agree, let's go with $138 for the expected cost.
SH
Sharika
1 year ago
Looks like the expected activity cost is $138. Let's go with option B)
LO
Lottie
1 year ago
So, (115 + 4 * 140 + 165) / 6 = $138
OD
Odette
1 year ago
I think the expected cost is $138 as well.
SU
Susana
1 year ago
Let's not leave it up to chance, the expected cost is $138.
JA
Janessa
1 year ago
Let's calculate the expected activity cost using the formula: (best case + 4 * most likely + worst case) / 6
RI
Rima
1 year ago
D) $165? Only if I'm planning a party for the project manager's retirement. This isn't the worst-case scenario, it's the 'let's add a hefty contingency' scenario.
WE
Weldon
2 years ago
A) $115? Really? Maybe if I had a time machine and could guarantee the best-case scenario. Otherwise, I'll have to pass on that one.
LO
Louis
1 year ago
D) I would go with option C) $140 as the expected activity cost.
KR
Kristel
1 year ago
C) I agree, the expected cost is usually closer to the most likely scenario.
LA
Laurel
1 year ago
B) I think the expected activity cost would be closer to the most likely cost of $140.
MI
Michal
1 year ago
A) $115? Really? Maybe if I had a time machine and could guarantee the best-case scenario. Otherwise, I'll have to pass on that one.
AN
Anglea
2 years ago
I'm going with B) $138. The expected cost should be somewhere between the best and worst case scenarios, right?
TA
Tarra
1 year ago
I agree with you, the correct answer is C) $140.
EL
Eleonora
1 year ago
I think it's C) $140. The expected cost is calculated using the formula (best case + 4 * most likely + worst case) / 6.
TR
Trina
2 years ago
C) $140 seems like the obvious choice here. It's the most likely cost, so why overthink it?
AV
Avery
2 years ago
That makes sense. So, the answer would be C) $140.
PA
Pamella
2 years ago
So, the expected cost would be ($140 + $115 + $165) / 3 = $140.
NO
Noelia
2 years ago
I think the expected activity cost is the average of the most likely, best case, and worst case scenarios.