Activity Dependency Optimistic Most likely Pessimistic           A - 5 6 8 B - 3 4 5 C A 2 3 4 D B 1 4 6 E B 1 3 4 F - 8 10 15 G E,F 2 3 4 H C,D 2 2 2.5   By using three estimates for each activity, find: [5[(PL01,PLO3, CLO1, CLO2) Estimated time ‘te” Activity standard deviation ‘s’ Draw PERT network after calculating the event standard deviations.[5]

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Utility theory

The utility theory in economics is stated based on an individual’s preferences. It explains the behavior of individuals. Depending on the assumption, people can be ranked in order of their preferences. In other words, utility means the property in an object that brings benefit, advantage, pleasure, well-being, welfare, good, or happiness.