QUESTION 1 The expected activity time in PERT analysis is calculated as: the simple average of the optimistic, pessimistic, and most likely times. the weighted average of a, m, and b, with m weighted 4 times as heavily as a and b. the sum of the optimistic, pessimistic, and most likely times. the sum of the optimistic, pessimistic, and most likely times, divided by six. the sum of the activity variances, divided by six. 2.85714 points QUESTION 2 The Dulac Box plant produces 500 cypress packing boxes in two 10-hour shifts. Due to higher demand, they have decided to operate three 8-hour shifts instead. They are now able to produce 600 boxes per day. What has happened to productivity? It has not changed. It has increased by 37.5 boxes/hr. It has increased by 20%. It has decreased by 8.3%. It has decreased by 9.1%. 2.85714 points QUESTION 3 Which of the following attributes is most typical of a service? production and consumption occur simultaneously tangible mass production consistency easy to automate 2.85714 points QUESTION 4 Which of the following statements regarding critical paths is true? The shortest of all paths through the network is the critical path. Some activities on the critical path may have slack. Every network has only one critical path. On a specific project, there can be multiple critical paths, all with exactly the same duration. The duration of the critical path is the average duration of all paths in the project network. 2.85714 points QUESTION 5 Which of the following tasks within an airline company are related to operations? crew scheduling international monetary exchange sales advertising accounts payable 2.85714 points QUESTION 6 Which of the following statements about time-series forecasting is true? It is always based on the assumption that future demand will be the same as past demand. It makes extensive use of the data collected in the qualitative approach. It is based on the assumption that the analysis of past demand helps predict future demand. Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting. All of these are true. 2.85714 points QUESTION 7 An activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. What is its expected activity time and variance ? 3.67; 1 3.67; 6 4.33; 1 4.33; 6 None of these 2.85714 points QUESTION 8 Ethical issues that can arise in projects include gifts from contractors, pressure to mask delays with false status reports, and pressure to compromise project quality to meet bonuses or avoid penalties related to schedules. True Fasle 2.85714 points QUESTION 9 John’s House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 5 to the previous month’s demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 1000 pancakes in May, 2200 pancakes in June, and 3000 pancakes in July, what should be the forecast for August? 2400 2511 2067 3767 1622 2.85714 points QUESTION 10 A business’s stakeholders, whose conflicting perspectives cause ethical and social dilemmas, include: lenders. suppliers. owners. employees. All of these. 2.85714 points QUESTION 11 Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes? Job scheduling Production levels Cash budgeting Capital expenditures purchasing 2.85714 points QUESTION 12 What term is given to those individuals with a vested interest in an organization, including customers, distributors, suppliers, owners, lenders, employees, and community members? Alumni Investors Vestors Stockholders Stakeholders 2.85714 points QUESTION 13 An activity on a PERT network has these time estimates: optimistic = 1, most likely = 2, and pessimistic = 5. What is its expected activity time? 2.00 2.33 2.67 4.67 14.00 2.85714 points QUESTION 14 PERT, but not CPM, has the abili…
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