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''E'' is a [[weighted average]] which takes into account both the most optimistic and most pessimistic estimates provided. SD measures the variability or uncertainty in the estimate.
In [[Project Evaluation and Review Techniques]] (PERT) the three values are used to fit a [[Beta distribution]] for Monte Carlo simulations.
The [[triangular distribution]] is also commonly used. It differs from the double-triangular by its simple triangular shape and the mode does not have to coincide with the median. The mean (expectation) is then:
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