Statements about project duration calculations

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Reference no: EM132229460

1. Which of the following statements about project duration calculations is INCORRECT?

a. The expected time of an activity is a weighted average of three estimates, optimistic, most likely, and pessimistic with respective weights of 1, 4, and 1.

b. The project target time minus the project expected time divided by the standard deviation is the Z value of a standard Normal distribution.

c. The completion time of a project follows the Beta disribution

d. The sum of variance of the critical activity times provides the variance of the overall project completion time.

2. When overseas, determining the optimal amount of dollars to exchange into local currency prior to going to the weekend bazaar could be best done with which type of model?

Economic Reorder Point With Safety Stock Model

Material Requirements Planning Model

Quantity Discount Model

Single Period Inventory Model

3. Which of the following statements is FALSE?

Most Americans use their mobile devices for getting directions or listening to music rather than making purchases.

The United States was the world's largest economy in 2014.

Around the world, consumers are showing a robust appetite for the sharing-based economy.

Global trade has helped lift hundreds of millions of Chinese out of poverty.

The presence of a few dominant companies in an industry makes it more difficult for entrepreneurs to start a business in that secto

4. For a project activity, its Early Start time is 8 weeks and its Late Start time in 10 weeks. Which of the following statements is true?

a. This activity is on the critical path

b. The Early Finish is 10

c. The slack for this activity is 2

d. The duration of this activity is 2.

5. In a forecasting trend equation

the intercept and the slope are identical

there are many independent variables

the independent variable is time

the dependent variable is time

Reference no: EM132229460

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