Posted: January 16th, 2017
Question1. Arcs in a project network indicate a. completion times. b. precedence relationships. c. activities. d. None of the alternatives above is correct. 2. Activities G, P, and R are the immediate predecessors for activity W. If the earliest finish times for the three are 12, 15, and 10, then the earliest start time for W a. is 10. b. is 12. c. is 15. d. cannot be determined. 3. When activity times are uncertain, a. assume they are normally distributed. b. calculate the expected time, using (a + 4m + b)/6. c. use the most likely time. d. calculate the expected time, using (a + m + b)/3. 4. Slack equals a. LF ? EF. b. EF ? LF. c. EF ? LS. d. LF ? ES. 5. Activities with zero slack a. can be delayed. b. must be completed first. c. lie on a critical path. d. have no predecessors. 6. Inventory a. is held against uncertain usage so that a supply of items is available if needed. b. constitutes a small part of the cost of doing business. c. is not something that can be managed effectively. d. All of the alternatives are correct. 7. Inventory models in which the rate of demand is constant are called a. fixed models. b. deterministic models. c. JIT models. d. requirements models. 8. Safety stock a. can be determined by the EOQ formula. b. depends on the inventory position. c. depends on the variability of demand during lead time. d. is not needed if Q* is the actual order quantity. 9. Inventory position is defined as a. the amount of inventory on hand in excess of expected demand. b. the amount of inventory on hand. c. the amount of inventory on hand plus the amount of inventory on order. d. None of the alternatives is correct. 10. For the EOQ model, which of the following relationships is incorrect? a. As the order quantity increases, the number of orders placed annually decreases. b. As the order quantity increases, annual holding cost increases. c. As the order quantity increases, annual ordering cost increases. d. As the order quantity increases, average inventory increases
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