FIU MAN4504 EXAM 1 (35 QUESTIONS) ALL ARE CORRECT - 88396

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QUESTION 1 The expected activity time in PERT analysis is calculated as: the simple average of the optimistic, pessimistic, and most likely times. the weighted average of a, m, and b, with m weighted 4 times as heavily as a and b. the sum of the optimistic, pessimistic, and most likely times. the sum of the optimistic, pessimistic, and most likely times, divided by six. the sum of the activity variances, divided by six. 2.85714 points QUESTION 2 The Dulac Box plant produces 500 cypress packing boxes in two 10-hour shifts. Due to higher demand, they have decided to operate three 8-hour shifts instead. They are now able to produce 600 boxes per day. What has happened to productivity? It has not changed. It has increased by 37.5 boxes/hr. It has increased by 20%. It has decreased by 8.3%. It has decreased by 9.1%. 2.85714 points QUESTION 3 Which of the following attributes is most typical of a service? production and consumption occur simultaneously tangible mass production consistency easy to automate 2.85714 points QUESTION 4 Which of the following statements regarding critical paths is true? The shortest of all paths through the network is the critical path. Some activities on the critical path may have slack. Every network has only one critical path. On a specific project, there can be multiple critical paths, all with exactly the same duration. The duration of the critical path is the average duration of all paths in the project network. 2.85714 points QUESTION 5 Which of the following tasks within an airline company are related to operations? crew scheduling international monetary exchange sales advertising accounts payable 2.85714 points QUESTION 6 Which of the following statements about time-series forecasting is true? It is always based on the assumption that future demand will be the same as past demand. It makes extensive use of the data collected in the qualitative approach. It is based on the assumption that the analysis of past demand helps predict future demand. Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting. All of these are true. 2.85714 points QUESTION 7 An activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. What is its expected activity timeand variance? 3.67; 1 3.67; 6 4.33; 1 4.33; 6 None of these 2.85714 points QUESTION 8 Ethical issues that can arise in projects include gifts from contractors, pressure to mask delays with false status reports, and pressure to compromise project quality to meet bonuses or avoid penalties related to schedules. True Fasle 2.85714 points QUESTION 9 John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 5 to the previous month's demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 1000 pancakes in May, 2200 pancakes in June, and 3000 pancakes in July, what should be the forecast for August? 2400 2511 2067 3767 1622 2.85714 points QUESTION 10 A business's stakeholders, whose conflicting perspectives cause ethical and social dilemmas, include: lenders. suppliers. owners. employees. All of these. 2.85714 points QUESTION 11 Which of the following most requires long-range forecasting (as opposed to short-range or medium-range forecasting) for its planning purposes? Job scheduling Production levels Cash budgeting Capital expenditures purchasing 2.85714 points QUESTION 12 What term is given to those individuals with a vested interest in an organization, including customers, distributors, suppliers, owners, lenders, employees, and community members? Alumni Investors Vestors Stockholders Stakeholders 2.85714 points QUESTION 13 An activity on a PERT network has these time estimates: optimistic = 1, most likely = 2, and pessimistic = 5. What is its expected activity time? 2.00 2.33 2.67 4.67 14.00 2.85714 points QUESTION 14 PERT, but not CPM, has the ability to consider the precedence relationships in a project. True False 2.85714 points QUESTION 15 Three commonly used productivity variables are: quality, external elements, and precise units of measure. labor, capital, and management. technology, raw materials, and labor. education, diet, and social overhead. quality, efficiency, and low cost. 2.85714 points QUESTION 16 The critical path for the network activities shown below is ________ with duration ________. A-B-D; 10 A-B-E; 11 C-E; 12 A-D-E; 13 A-B-C-D-E; 22 2.85714 points QUESTION 17 The largest contributor to productivity increases is ________, estimated to be responsible for ________ of the annual increase. management; over one-half Mr. Deming; one-half labor; two-thirds capital; 90% technology; over one-half 2.85714 points QUESTION 18 The PERT pessimistic time estimate is an estimate of the minimum time an activity will require. True False 2.85714 points QUESTION 19 Who among the following is associated with contributions to quality control in operations management? Charles Babbage Henry Ford Frank Gilbreth W. Edwards Deming Henri Fayol 2.85714 points QUESTION 20 One responsibility of a project manager is to make sure that the project meets its quality goals. True False 2.85714 points QUESTION 21 The Dulac Box plant produces 500 cypress packing boxes in two 10-hour shifts. What is the productivity of the plant? 25 boxes/hr. 50 boxes/hr. 5000 boxes/hr. 0.04 boxes/hr. 250 boxes/hr. 2.85714 points QUESTION 22 The quarterly sales for specific educational software over the past three years are given in the following table. Compute the four seasonal factors. YEAR 1 YEAR 2 YEAR 3 Quarter 1 1710 1820 1830 Quarter 1 960 910 1090 Quarter 1 2720 2840 2900 Quarter 1 2430 2200 2590 Q1= 0.933, Q2= 0.933, Q3= 1.100, Q4= 1.033 Q1= 0.9933, Q2= 0.9433, Q3= 1.1400, Q4= 1.2033 both a and b none of the above 2.85714 points QUESTION 23 The shortest of all paths through the network is the critical path. True False 2.85714 points QUESTION 24 A fundamental distinction between trend projection and linear regression is that: trend projection uses least squares while linear regression does not. only linear regression can have a negative slope. in trend projection the independent variable is time; in linear regression the independent variable need not be time, but can be any variable with explanatory power. trend projection can be a function of several variables, while linear regression can only be a function of one variable. trend projection uses two smoothing constants, not just one. 2.85714 points QUESTION 25 The service sector makes up approximately what percentage of all jobs in the United States? 12% 40% 66% 86% 94% 2.85714 points QUESTION 26 An activity on a PERT network has these time estimates: optimistic = 2, most likely = 5, and pessimistic = 10. What is its expected activity time? 5.00 5.33 5.67 10.67 32.00 2.85714 points QUESTION 27 The total of all outputs produced by the transformation process divided by the total of the inputs is: utilization. greater in manufacturing than in services. defined only for manufacturing firms. multifactor productivity. single-factor productivity. 2.85714 points QUESTION 28 Which of these statements regarding time-cost tradeoffs in CPM networks is true? Crashing is not possible unless there are multiple critical paths. Crashing a project often reduces the length of long-duration, but noncritical, activities. Activities not on the critical path can never be on the critical path, even after crashing. Crashing shortens the project duration by assigning more resources to one or more of the critical tasks. The crash time always exceeds the normal time. 2.85714 points QUESTION 29 The network below represents a project being analyzed by the critical path method. Activity durations are A=5, B=2, C=12, D=3, E=5, F=1, G=7, H=2, I=10, and J=6. a. What task must be on the critical path, regardless of activity durations? b. What is the duration of path A-B-E-H-J? c. What is the critical path of this network? d. What is the length of the critical path? e. What is slack time at activity H? f. What is the Late Finish of activity H? g. If activity C were delayed by two time units, what would happen to the project duration? task J, duration is 20, A-B-J, length is 20, slack for H is 7, LF of H is 24, if C were delayed then there would be a 1 day delay task C, duration is 30, A-B-G-I-J, length is 20, slack for H is 2, LF of H is 24, if C were delayed there would be a three day delay task J, duration is 20, A-B-G-I-J, length is 30, slack for H is 5, LF of H is 24, if C were delayed there would no impact none of the above 2.85714 points QUESTION 30 Gibson Valves produces cast bronze valves on an assembly line, currently producing 1600 valves each 8-hour shift. If the productivity is increased by 10%, it would then be: 180 valves/hr. 200 valves/hr. 220 valves/hr. 880 valves/hr. 1760 valves/hr. 2.85714 points QUESTION 31 The degree or strength of a relationship between two variables is shown by the: alpha mean mean absolute deviation. coefficient of correlation. cumulative error. 2.85714 points QUESTION 32 Susan has a part-time business producing seasonal plywood yard ornaments for resale at local craft fairs and bazaars. She currently works 8 hours per day to produce 16 ornaments. a. What is her productivity? b. She thinks that by redesigning the ornaments and switching from use of a wood glue to a hot-glue gun she can increase her total production to 20 ornaments per day. What is her new productivity? c. What is her percentage increase in productivity? productivity= 2.5 new productivity= 25 percentage increase in productivity= 2 productivity= 5 new productivity= 5.2 percentage increase in productivity= 25 productivity= 0.5 new productivity= 2.5 percentage increase in productivity= 25 none of the above 2.85714 points QUESTION 33 The last four weekly values of sales were 80, 100, 105, and 90 units, respectively. The last four forecasts (for the same four weeks) were 60, 80, 95, and 75 units, respectively. Calculate the MAD, MSE, and MAPE for these four weeks. MAD= 12.25, MSE= 181.25, MAPE= .78 or 7.8% MAD= 6.25, MSE= 81.25, MAPE= .178 or 17.8% MAD= 16.25, MSE= 281.25, MAPE= .178 or 17.8% none of the above 2.85714 points QUESTION 34 The three major types of forecasts used by organizations in planning future operations are: strategic, tactical, and operational. economic, technological, and demand. exponential smoothing, Delphi, and regression. causal, time-series, and seasonal. departmental, organizational, and territorial. 2.85714 points QUESTION 35 Gibson Valves produces cast bronze valves on an assembly line. If 1600 valves are produced in an 8-hour shift, the productivity of the line is: 2 valves/hr. 40 valves/hr. 80 valves/hr. 200 valves/hr. 1600 valves/hr.
Solution Description

QUESTION 1

The expected activity time in PERT analysis is calculated as:

the simple average of the optimistic, pessimistic, and most likely times.

the weighted average of a, m, and b, with m weighted 4 times as heavily as a and b.

the sum of the optimistic, pessimistic, and most likely times.

the sum of the optimistic, pessimistic, and most likely times, divided by six.

the sum of the activity variances, divided by six.

2.85714 points 

QUESTION 2

The Dulac Box plant produces 500 cypress packing boxes in two 10-hour shifts. Due to higher demand, they have decided to operate three 8-hour shifts instead. They are now able to produce 600 boxes per day. What has happened to productivity?

It has not changed.

It has increased by 37.5 boxes/hr.

It has increased by 20%.

It has decreased by 8.3%.

It has decreased by 9.1%.

2.85714 points 

QUESTION 3

Which of the following attributes is most typical of a service?

production and consumption occur simultaneously

tangible

mass production

consistency

easy to automate

2.85714 points 

QUESTION 4

Which of the following statements regarding critical paths is true?

The shortest of all paths through the network is the critical path.

Some activities on the critical path may have slack.

Every network has only one critical path.

On a specific project, there can be multiple critical paths, all with exactly the same duration.

The duration of the critical path is the average duration of all paths in the project network.

2.85714 points

QUESTION 5

Which of the following tasks within an airline company are related to operations?

crew scheduling

international monetary exchange

sales

advertising

accounts payable

2.85714 points

QUESTION 6

Which of the following statements about time-series forecasting is true?

It is always based on the assumption that future demand will be the same as past demand.

It makes extensive use of the data collected in the qualitative approach.

It is based on the assumption that the analysis of past demand helps predict future demand.

Because it accounts for trends, cycles, and seasonal patterns, it is always more powerful than associative forecasting.

All of these are true.

2.85714 points 

QUESTION 7

An activity on a PERT network has these time estimates: optimistic = 2, most likely = 3, and pessimistic = 8. What is its expe

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