Provide answers to the questions with a very brief explanation for your choices.

1. Which of the following is typically the responsibility of a project manager?

a. Meeting schedule requirements

b. All of the others

c. Meeting budget requirements

d. Meeting performance specifications

2. Which weight is assigned to the most recent observation in a two period weighted moving average?

a. 1/2

b. 2/3

c. 1/3

d. 1/5

3. Why is the network crash cost function typically non-linear?

a. Cheaper tasks are crashed first

b. Expensive tasks are crashed first

c. Cheaper tasks are crashed last

d. Economies of scale

4. What is the value for Yr, given the regression equation Yr = 12 - 2X1 - 3X2, where X1 = 3 and X2 = 2?

a. 0

b. -4

c. 10

d. 2

5. What is the appropriate conclusion if alpha is 10% and the p-value is 5% in simple regression analysis?

a. Conclude that X is NOT statistically significant

b. Conclude that Y is statistically significant

c. Increase the sample size

d. Conclude that X is statistically significant

6. Which one is NOT correct regarding a binding constraint in a LP model?

a. Must have more than one

b. Relaxing a binding constraint will often improve the solution

c. Limits the ability to improve the objective function

d. Must have at least one

7. What is the first step in a SWOT analysis?

a. Identifying the easiest factors to deal with first

b. Organizing the variables alphabetically

c. Identifying the relevant factors and classify them under the SWOT headings

d. Conducting a best-in-show analysis

8. What is the primary purpose behind the moving average?

a. Normalize the data

b. Smooth out the data

c. Organize the data

d. Condense the data

9. Which one of the following is used to limit the extent of crashing in project management?

a. Precedent relationships

b. Slack

c. Cost slopes

d. Task constraints

10. Which of the following best defines a decision tree?

a. An activity log that records the various states of nature

b. An activity log that records the various decision options

c. A graphical representation of possible solutions to a problem based on certain outcomes

d. None of the others

11. What is the crashing slope for an activity with a normal time of 12, a normal cost of 2000, a crash time of 6 and a crash cost of 3200?

a. 100

b. 300

c. 200

d. None of the others

12. How is an activity defined in a project management application?

a. Largest work effort that a project manager can control

b. Average work effort that a project manager can control

c. None of the others

d. Smallest work effort that a project manager can control