1. Consider the following project network.

Activity	Duration
A	2
B	1
C	4
D	5.5
E	2
F	4
G	3

What is the slack of Activity A?

A. 0

B. 0.5

C. 1.0

D. 1.5

2. A farmer must decide which crop to plant on his small farm. He is considering four different types of crops but knows that his profit will be dictated by the crop he chooses and the level of rainfall during the growing season. The corresponding payoffs are in thousands of U.S. dollars in the table below.

	Low Rainfall	Average Rainfall	High Rainfall
Plant Crop 1	$300	$200	$0
Plant Crop 2	$120	$350	$100
Plant Crop 3	-$200	$100	$400
Plant Crop 4	$150	$80	$300

3. Consider the following probabilities for the states of nature.

	Low Rainfall	Average Rainfall	High Rainfall
Probability	0.3	0.5	0.2

Which decision alternative would you choose using the expected value (EV) approach?

A. Plant crop 1

B. Plant crop 2

C. Plant crop 3

D. Plant crop 4

4.Consider the following project network.

Activity	Duration
A	2
B	1
C	4
D	5.5
E	2
F	4
G	3

What is the critical path?

		The critical path is B-E-G.
		he critical path is B-D-F.
		The critical path is A-C-F.
		The critical path is B-C-F.

5. Consider the following project network.

Activity	Duration
A	2
B	1
C	4
D	5.5
E	2
F	4
G	3

6. Which of the following statements is false?

		If Activity C suddenly had to be completed before Activity G could start, then the whole project would not be delayed.
		Activity E can finish after Activity C finishes.
		Activity D can start at 1.0 and not delay the whole project.
		The project can be crashed to 11 days.