QUESTION $1$

Using exponential smoothing, the demand forecast for time period $9$ equals the demand forecast for time period $8$ plus

a times $($the demand forecast for time period $8)$

a times $($the error in the demand forecast for time period $8)$

a times $($the observed demand in time period $9)$

a times $($the demand forecast for time period $9)$

QUESTION $2$

The volume that results in total revenue being equal to total cost is the

break$-$even point.

marginal volume.

marginal cost.

profit mix.QUESTION $3$

The following is a payoff table that was developed to help a person choose between two investment alternatives:

What decision would maximize the expected value?

Good Economy

Alternative #$1$

Alternative $2$

$5,200$

QUESTION $4$

The options from which a decision maker chooses a course of action are

called the decision alternatives.

under the control of the decision maker.

not the same as the states of nature.

All of the alternatives are trueQUESTION $5$

A decision tree

presents all decision alternatives first and follows them with all states of nature.

presents all states of nature first and follows them with all decision alternatives.

alternates the decision alternatives and states of nature.

arranges decision alternatives and states of nature in their natural chronological order.

QUESTION $6$

Which of the following is a general rule for crashing activities?

Crash only non$-$critical activities.

Crash activities with zero slack.

Crash activities with the greatest number of predecessors.

Crash the path with the fewest activities.QUESTION $7$

Slack time in a network is the

Amount of time that you would expect it would take to complete the activity.

Difference between the expected completion time of the project using pessimistic times and the expected completion time of

the project using optimistic times.

Shortest amount of time that could be required to complete the activity.

Amount of timethat an activity can be delayed without delaying the entire project.

QUESTION $8$

Which of the following is not a concept associated with CPM$?$

activity duration

standard deviation

normal cost

deterministic networkQUESTION $9$

Which of the following exponential smoothing constant values puts the same weight on the most recent time series value as does a $5-$

period moving average?

$=\mathrm{.}5$

$=\mathrm{.}25$

$=\mathrm{.}35$

$=\mathrm{.}2$

QUESTION $10$

A payoff

is always measured in profit.

is always measured in cost$.$

exists for each pair of decision alternative and state of nature.

exists for each state of nature.