True or False. Explain your answers.
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.