PMI Exam PMI-100 Topic 1 Question 68 Discussion

Actual exam question for PMI's PMI-100 exam

Question #: 68
Topic #: 1

Which of the following is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen?

ASensitivity analysis

BThree-point estimate

CModeling and simulation

DExpected monetary value analysis

Show Suggested Answer

Suggested Answer: D

by Johnetta at Mar 20, 2024, 02:42 AM

Limited Time Offer

25%

Off

Get Premium PMI-100 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Sang

5 months ago

I see your point, Jolanda. But Expected monetary value analysis really takes into account various possibilities.

upvoted 0 times

...

Maile

5 months ago

Well, Expected monetary value analysis considers different scenarios, so it seems more fitting.

upvoted 0 times

...

Jolanda

6 months ago

I believe it's A) Sensitivity analysis.

upvoted 0 times

...

Sang

6 months ago

I agree with Maile, Expected monetary value analysis makes sense.

upvoted 0 times

...

Jacquelyne

6 months ago

Yes, that's true. But for calculating the average outcome, Expected monetary value analysis is the most suitable option out of the given choices.

upvoted 0 times

...

Maile

6 months ago

I think it's D) Expected monetary value analysis.

upvoted 0 times

...

Margurite

6 months ago

I see your point. B) Three-point estimate can also be useful in estimating best case, worst case, and most likely outcomes.

upvoted 0 times

...

Nettie

7 months ago

That's true, but for calculating the average outcome considering different possible scenarios, Expected monetary value analysis seems more appropriate.

upvoted 0 times

...

Yolande

7 months ago

I believe A) Sensitivity analysis is also important in assessing the impact of different variables on outcomes.

upvoted 0 times

...

Katheryn

7 months ago

I agree with you, Expected monetary value analysis is used when there are uncertain future scenarios.

upvoted 0 times

...

Adolph

7 months ago

I think the answer is D) Expected monetary value analysis because it calculates the average outcome considering different scenarios.

upvoted 0 times

...

Yeah, the three-point estimate is more about estimating a range of possible outcomes, not the average. Modeling and simulation could also be relevant, but I think the 'expected monetary value' is the most direct answer here.

upvoted 0 times

Chu

7 months ago

Yes, that's the most appropriate choice in this context.

upvoted 0 times

...

Aleshia

8 months ago

So, the answer is definitely D) Expected monetary value analysis?

upvoted 0 times

...

Jettie

8 months ago

That's more about analyzing the impact of variables on the outcome.

upvoted 0 times

...

Melissa

8 months ago

What about sensitivity analysis?

upvoted 0 times

...

Deonna

8 months ago

I agree, that sounds like the best option.

upvoted 0 times

...

Elke

8 months ago

I think the answer is D) Expected monetary value analysis.

upvoted 0 times

...

Jani

8 months ago

Agreed, that's gotta be the right answer. Although, I have to say, the 'three-point estimate' option is a bit of a curve ball. I've heard of that before, but I'm not sure it quite fits the description in the question.

upvoted 0 times

...

Cordelia

8 months ago

I was thinking the same thing. Expected monetary value analysis is all about weighing the potential outcomes and their probabilities to determine the average expected result. Seems like a pretty straightforward statistical concept to me.

upvoted 0 times

...

Ona

8 months ago

Hmm, this question seems to be testing our understanding of statistical concepts. I think the answer might be 'Expected monetary value analysis' since it involves calculating the average outcome when different scenarios are possible.

upvoted 0 times

...

PMI Exam PMI-100 Topic 1 Question 68 Discussion

Contribute your Thoughts:

Sang

Maile

Jolanda

Sang

Jacquelyne

Maile

Margurite

Nettie

Yolande

Katheryn

Adolph

Chan

Chu

Aleshia

Jettie

Melissa

Deonna

Elke

Jani

Cordelia

Ona