Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A project has four major activities. Activity A precedes activity B, activity C precedes activity D. 3-point estimates for activities are A(8.5, 17, 25.5 ),

A project has four major activities. Activity A precedes activity B, activity C precedes activity D. 3-point estimates for activities are A(8.5, 17, 25.5 ), B( 3.5, 7, 10.5 ), C( 2, 2, 2 ), D( 4, 4, 4 ) weeks. What probability would you assign to a project duration of more than 24 weeks?

a.0.3652

b.1

c.0.5

d.0.7867

There are four activities on the critical path, and the standard deviations for their durations are 4, 7, 16, and 5 days. The standard deviation of the duration of the critical path is:

a.18.6

b.346

c.8

d.5.657

e.32

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity sold was 10610), (3 year ago Quantity sold was 11006 ), (2 year ago Quantity sold was 17015 ) and the last year Quantity sold was 19639 . The previous trend line had predicted 12250 for three years ago, 13000 for two years ago and 13750 for last year. What was the mean absolute percent error (MAPE) for these forecasts?

a.0.22

b.21.63

c.2887

d.3716

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity sold was 1078), (3 year ago Quantity sold was 1238 ), (2 year ago Quantity sold was 1759 ) and the last year Quantity sold was 1910 . The previous trend line had predicted 1219 for three years ago, 1288 for two years ago and 1357 for last year. What was the mean squared error (MSE) for these forecasts?

a.347.67001

b.0.19

c.176003.67

d.19.09

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management

Authors: Chuck Williams

4th Edition

978-0324316797, 0324316798

More Books

Students also viewed these General Management questions

Question

How can wage surveys be effectively used in collective bargaining?

Answered: 1 week ago