Mike is the project manager in the construction of one stage for a concert. He has no experience managing this type of project, so he asked other experience project managers to prepare an estimate of cost to build the stage. Phil estimated 100,000 $, which you believe is an optimistic estimate. Mark estimated 140,000 $ which you consider is the most realistic assessment. On the other hand, Nick estimated 185,000 $, you consider his assessment pessimistic. Based on beta distribution, what would be a more accurate estimate of the cost?
A. 163,333 $
B. 141,666 $
C. 140,833 $
D. Beta distribution can only be used in schedule estimates.