The optimistic, most likely and pessimistic time of an activity are 6, 9 and 12 days respectively. The standard deviation and variance of the activity are ________ respectively. 

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  1. 1 and 2
  2. 1 and 1
  3. 2 and 1
  4. 2 and 2

Answer (Detailed Solution Below)

Option 2 : 1 and 1
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Concept:

Optimistic time (to), Pessimistic time (tp), Most likely time (tm):

Expected time: \({t_E} = \frac{{{t_o} + 4{t_m} + {t_p}}}{6}\)

Standard deviation: \(\sigma = \frac{{{t_p} - {t_o}}}{6}\)

For a PERT network,\(\;{\sigma ^2} = {\left( {\frac{{{t_p} - {t_o}}}{6}} \right)^2}\)

The variance is given by:

\(V = {\sigma ^2} = {\left( {\frac{{{t_p} - {t_o}}}{6}} \right)^2}\)

Calculation:

Given:

to = 6, tm = 9, tp = 12

Standard deviation: \(\sigma = \frac{{{t_p} - {t_o}}}{6}\)

\(\sigma = \frac{{{12} - {6}}}{6}=1\)

\(V = {\left( {\frac{{{t_p} - {t_o}}}{6}} \right)^2} = {\left( {\frac{{12 - 6}}{6}} \right)^2} = 1\)
 
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