Assignment: Beta Distribution
You are the project manager for the Sweep Time software project. You have decided to use the beta distribution, or 3-point estimation, technique for this project. For the "phase 1 test" activity in days, the following estimates are available: O=5, P=10, M=6.
Address the following:
I. Explain beta distribution, when it is used, and the benefits and shortcomings of the technique.
II. What is the result of this estimate in the example?
III. How does a skew from the mean/median figure relate to planning a project? That is, if your beta is 7.5 and your M=6, how do these relate?
Submission:
1. Write a 3 to 4 pages paper addressing beta distribution. The length does not include the required title and references pages, and the appendix in which you show your calculations.
2. Support your paper with a minimum of two current scholarly sources.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.