True/False
1. The seasonal factor for any period of a year measures how that period compares to the same period last year.
2. The averaging method uses all the data points in the time-series.
3. Forecasting techniques such as moving-average, exponential smoothing, and the last-value method all represent averaged values of time-series data.
4. A smoothing constant of 0.1 will cause an exponential smoothing forecast to react more quickly to a sudden change than a value of 0.3 will.
5. Project managers must often function in an environment that is beset with uncertainties.
6. The path in a project network with the average duration is the critical path.
7. The activities with the longest durations in a project network are called critical activities.
8. The earliest finish time for an activity is equal to the latest finish time minus the activity slack.
9. If an activity is not on the critical path, then the project cannot be delayed if that activity is delayed.
Multiple Choice
10. Time-series data may exhibit which of the following behaviors?
A) Trend
B) Seasonality
C) Cycles
D) Irregularities
E) All of the above
11. Gradual, long-term movement in time-series data is called:
A) Seasonal variation
B) Trend
C) Cycles
D) Irregular variation
E) Random variation
12. In order to increase the responsiveness of a forecast made using the moving-average method, the number of values in the average should be:
A) Decreased
B) Increased
C) Multiplied by a larger alpha
D) Multiplied by a smaller alpha
E) None of the above
13. PERT/CPM can answer which of the following questions?
A) When do activities need to start and finish to meet a deadline?
B) How much delay can be tolerated for certain activities?
C) Given uncertainties, what is the probabilitiy that a project will finish on time?
D) Only the first two of the above
E) All of the above
14. The earliest start time for an activity is:
A) Based on the length of the critical path
B) Based on the maximum of the earliest finish times of its immediate predecessor
C) Based on the maximum of the earliest finish times of its immediate successors
D) The same as the latest start time of its immediate predecessor
E) None of the above
15. In project network analysis, slack refers to the difference between:
A) Observed and predicted times
B) Optimistic and pessimistic times
C) Latest finish and latest start times
D) Earliest finish and earliest start times
E) Latest start and earliest start times