QUESTION $22$

The expected value of sample information $($EVSI$)$ can be used to

establish a maximum amount to spend on additional information.

calculate conditional probabilities.

establish risk avoidance.

provide points on a utility curve.

QUESTION $23$

Given an activity's optimistic, most likely, and pessimistic time estimates of $3,5,$ and $15$ days, respectively, compute the PERT standard

deviation for this activity.

$\backslash$table$[[2],[4],[5],[15]]$

None of the aboveQUESTION $24$

The following is an opportunity loss table $($a regret table$).$

What decision should be made based on the minimax regret criterion?

Alternative $3$

Alternative $2$

Alternative $1$

Does not matter

QUESTION $25$

All of the following are true about time series methods except

They discover a pattern in historical data and project it into the future.

They always have to involve the use of expert judgment to develop forecasts.

They assume that the pattern of the past will continue into the future.

Their forecasts are based solely on past values of the variable or past forecast errors.QUESTION $26$

Given an activity's optimistic, most likely, and pessimistic time estimates of $5,7,$ and $15$ days respectively, compute the PERT expected

activity time for this activity.

$7-8-9-6$

None of the above

QUESTION $27$

One measure of the forecast accuracy is the mean absolute error $($MAE$).$ If every forecast were perfect for a sample data, the MAE would

equal

$100$

$10$

$1$

$0$QUESTION $28$

A time series shows a regular pattern of up and down fluctuates over a relatively short period of time is called

trend

cycles

periodicity

seasonalityQUESTION $29$

The following Table $11-1$ represents a project with known activity times. All times are in weeks.

Using the data in Table $11-1,$ what is the latest possible time that $F$ may be started without delaying completion of the project?

$0$

$9$

$8$

$10$

QUESTION $30$QUESTION $30$

The following Table $11-1$ represents a project with known activity times. All times are in weeks.

According to Table $11-1,$ compute the slack time for activity D$.$

$6$

$5$

$3$

$0$