SCMA 331 Exam -With complete solutions
activity has an optimistic time of 11 days, a most likely time of 15 days, and a pessimistic time of 23 days. What is its variance? Answer - 4
The critical path of a network is the__________ Answer - longest time path through the network.
The Beta dis...
An activity has an optimistic time of 11 days, a most likely time of 15 days, and a pessimistic time of 23
days. What is its variance? Answer - 4
The critical path of a network is the__________ Answer - longest time path through the network.
The Beta distribution is used in project management to Answer - Calculate expected activity times
The three phases involved in the management of large projects are: Answer - Planning, scheduling, and
controlling
An activity on a PERT network has these time estimates: optimistic = 1, most likely = 2, and pessimistic =
5. Its expected time is: Answer - 2.33
An activity on a PERT network has these time estimates: optimistic = 2, most likely = 5, and pessimistic =
10. Its expected time is: Answer - 5.33
A project's critical path is composed of activities A (variance .33), B (variance .67), C (variance .33), and D
(variance .17). What is the standard deviation on the critical path? Answer - 1.22
What is a basic assumption of PERT? Answer - No activity in the network must be repeated.
In a PERT network, non-critical activities that have little slack need to be monitored closely__________
Answer - because near-critical paths could become critical paths with small delays in these activities
PERT analysis computes the variance of the total project completion time as: Answer - The sum of the
variances of all activities on the critical path.
, An activity has an optimistic time of 15 days, a most likely time of 18 days, and a pessimistic time of 27
days. What is the expected time? Answer - 19 days
__________ is the amount of time an individual activity in a network can be delayed without delaying
the entire project. Answer - Slack Time
An activity on a PERT network has these time estimates: optimistic =2, most likely = 3, and pessimistic 8.
Its expected time and variance (if it is a critical activity) are: Answer - 3.67 and 1
The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts were 60, 80,
95, and 75 units. These forecasts illustrate: Answer - Bias
A forecast that projects a company's sales is a(n): Answer - Demand forecast
Forecasts are usually classified into three categories including: Answer - Short-range, medium-range,
and long-range
A regression model is used to forecast sales based on advertising dollars spent. The regression line is
y=500+35x and the coefficient of determination is .90. Which is the best statement about this forecasting
model? Answer - The correlation between sales and advertising is positive.
Given the following data about monthly demand, what is the approximate forecast for May using a four
month moving average?
November = 39
December = 36
January = 40
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