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QUESTION 1 Using exponential smoothing, the demand forecast for time period 9 equals the demand forecast for time period 8 plus a times ( the
QUESTION
Using exponential smoothing, the demand forecast for time period equals the demand forecast for time period plus
a times the demand forecast for time period
a times the error in the demand forecast for time period
a times the observed demand in time period
a times the demand forecast for time period
QUESTION
The volume that results in total revenue being equal to total cost is the
breakeven point.
marginal volume.
marginal cost.
profit mix.QUESTION
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 #
Alternative
QUESTION
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
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
Which of the following is a general rule for crashing activities?
Crash only noncritical activities.
Crash activities with zero slack.
Crash activities with the greatest number of predecessors.
Crash the path with the fewest activities.QUESTION
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
Which of the following is not a concept associated with CPM
activity duration
standard deviation
normal cost
deterministic networkQUESTION
Which of the following exponential smoothing constant values puts the same weight on the most recent time series value as does a
period moving average?
QUESTION
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.
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