You have been recently assigned to provide an accurate project schedule for a large construction company. You are evaluating the network diagram for the construction project.
Your lead engineer has given you the following estimates for several critical path activity: 30 days (optimistic), 80 days (pessimistic), and 40 days (most likely). Which of the following statements are true, assuming the beta distribution?
A. There is approx. 95 percent chance that the activity will complete roughly between 36 days and 53 days
B. There is approx. 95 percent chance that the activity will complete roughly between 20 days and 70 days
C. There is approx. 99 percent chance that the activity will complete roughly between 28 days and 61 days
D. There is approx. 68 percent chance that the activity will complete roughly between 36 days and 53 days
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