What formula describes the triangular distribution for activity duration?

The formula that describes the triangular distribution for activity duration is indeed calculated by taking the minimum (O, or optimistic estimate), the most likely (M), and the maximum (P, or pessimistic estimate), and averaging them. This averaging process can be represented as (O + M + P) / 3.

The triangular distribution is commonly used in project management for risk analysis and estimating completion times, as it incorporates the range of possible outcomes while giving more weight to the most likely scenario. By averaging over these three estimates, the formula captures the uncertainty inherent in estimating how long an activity will take, providing a more balanced and realistic expected duration than just using a single point estimate.

In contrast, the other options suggest different mathematical operations or combinations that do not reflect the nature of the triangular distribution. For example, multiplying the values together or performing arithmetic operations that don't correctly summarize the estimates will not yield a meaningful representation of the duration based on the principles of risk assessment and project estimates inherent in the triangular distribution concept.