ISDS 3115 LSU Midterm Exam Questions
With Correct Answers
Work |breakdown |structure |is |a |useful |tool |in |project |management |because |it |addresses |the |
timing |of |individual |work |elements. |- |CORRECT |ANSWER✔✔-False
A |project |organization: |- |CORRECT |ANSWER✔✔-is |effective |for |companies |with |multiple |large |
projects.
Activity |R |on |a |CPM |network |has |predecessors |M |and |N, |and |has |successor |S. |R |has |duration |
5. |N's |late |finish |is |18, |while |M's |is |20. |S's |late |start |is |14. |Which |of |the |following |is |definitely |
true? |- |CORRECT |ANSWER✔✔-The |set |of |times |cannot |all |be |possible.
A |local |project |being |analyzed |by |PERT |has |42 |activities, |13 |of |which |are |on |the |critical |path. |If
|the |estimated |time |along |the |critical |path |is |105 |days |with |a |project |variance |of |25, |what |is |
the |probability |that |the |project |will |be |completed |in |95 |days |or |less? |- |CORRECT |ANSWER✔✔-
0.0228
One |advantage |of |exponential |smoothing |is |the |limited |amount |of |record |keeping |involved. |- |
CORRECT |ANSWER✔✔-True
The |forecasting |technique |that |pools |the |opinions |of |a |group |of |experts |or |managers |is |known
|as: |- |CORRECT |ANSWER✔✔-jury |of |executive |opinion.
Increasing |the |number |of |periods |in |a |moving |average |will |accomplish |greater |smoothing, |but |
at |the |expense |of: |- |CORRECT |ANSWER✔✔-sensitivity |to |real |changes |in |the |data.
The |last |four |weekly |values |of |sales |were |80, |100, |105, |and |90 |units. |The |last |four |forecasts |
were |60, |80, |95, |and |75 |units. |These |forecasts |illustrate: |- |CORRECT |ANSWER✔✔-bias.
, The |production |process |at |Hard |Rock |Cafe |does |NOT |include |which |of |the |following |activities?
|- |CORRECT |ANSWER✔✔-advertising
Which |of |these |is |NOT |one |of |the |basic |functions |of |the |management |process? |- |CORRECT |
ANSWER✔✔-inspecting
The |service |sector |constitutes |what |percentage |of |employment |in |the |United |States? |- |
CORRECT |ANSWER✔✔-between |80% |to |90%
Which |of |the |following |is |NOT |a |reason |why |domestic |business |operations |decide |to |change |to
|some |form |of |international |operation? |- |CORRECT |ANSWER✔✔-attract |and |retain |local |talent
The |creation |of |a |unique |advantage |over |competitors |is |referred |as |- |CORRECT |ANSWER✔✔-
competitive |advantage.
A |way |to |identify |those |elements |in |the |product/service |chain |that |uniquely |add |value |is |
referred |to |as |- |CORRECT |ANSWER✔✔-value-chain |analysis.
Which |of |the |following |is |the |Japanese |term |used |to |describe |continuous |improvement |
efforts? |- |CORRECT |ANSWER✔✔-kaizen
Which |of |the |following |TQM |tools |would |be |best |suited |for |displaying |the |number |of |students |
majoring |in |each |business |discipline? |- |CORRECT |ANSWER✔✔-histogram
What |is |the |reasoning |behind |setting |the |upper |and |lower |control |limits |
±3σx
from |the |mean |- |CORRECT |ANSWER✔✔-We |know |that |99.73% |of |natural |variation |is |
contained |within |
With Correct Answers
Work |breakdown |structure |is |a |useful |tool |in |project |management |because |it |addresses |the |
timing |of |individual |work |elements. |- |CORRECT |ANSWER✔✔-False
A |project |organization: |- |CORRECT |ANSWER✔✔-is |effective |for |companies |with |multiple |large |
projects.
Activity |R |on |a |CPM |network |has |predecessors |M |and |N, |and |has |successor |S. |R |has |duration |
5. |N's |late |finish |is |18, |while |M's |is |20. |S's |late |start |is |14. |Which |of |the |following |is |definitely |
true? |- |CORRECT |ANSWER✔✔-The |set |of |times |cannot |all |be |possible.
A |local |project |being |analyzed |by |PERT |has |42 |activities, |13 |of |which |are |on |the |critical |path. |If
|the |estimated |time |along |the |critical |path |is |105 |days |with |a |project |variance |of |25, |what |is |
the |probability |that |the |project |will |be |completed |in |95 |days |or |less? |- |CORRECT |ANSWER✔✔-
0.0228
One |advantage |of |exponential |smoothing |is |the |limited |amount |of |record |keeping |involved. |- |
CORRECT |ANSWER✔✔-True
The |forecasting |technique |that |pools |the |opinions |of |a |group |of |experts |or |managers |is |known
|as: |- |CORRECT |ANSWER✔✔-jury |of |executive |opinion.
Increasing |the |number |of |periods |in |a |moving |average |will |accomplish |greater |smoothing, |but |
at |the |expense |of: |- |CORRECT |ANSWER✔✔-sensitivity |to |real |changes |in |the |data.
The |last |four |weekly |values |of |sales |were |80, |100, |105, |and |90 |units. |The |last |four |forecasts |
were |60, |80, |95, |and |75 |units. |These |forecasts |illustrate: |- |CORRECT |ANSWER✔✔-bias.
, The |production |process |at |Hard |Rock |Cafe |does |NOT |include |which |of |the |following |activities?
|- |CORRECT |ANSWER✔✔-advertising
Which |of |these |is |NOT |one |of |the |basic |functions |of |the |management |process? |- |CORRECT |
ANSWER✔✔-inspecting
The |service |sector |constitutes |what |percentage |of |employment |in |the |United |States? |- |
CORRECT |ANSWER✔✔-between |80% |to |90%
Which |of |the |following |is |NOT |a |reason |why |domestic |business |operations |decide |to |change |to
|some |form |of |international |operation? |- |CORRECT |ANSWER✔✔-attract |and |retain |local |talent
The |creation |of |a |unique |advantage |over |competitors |is |referred |as |- |CORRECT |ANSWER✔✔-
competitive |advantage.
A |way |to |identify |those |elements |in |the |product/service |chain |that |uniquely |add |value |is |
referred |to |as |- |CORRECT |ANSWER✔✔-value-chain |analysis.
Which |of |the |following |is |the |Japanese |term |used |to |describe |continuous |improvement |
efforts? |- |CORRECT |ANSWER✔✔-kaizen
Which |of |the |following |TQM |tools |would |be |best |suited |for |displaying |the |number |of |students |
majoring |in |each |business |discipline? |- |CORRECT |ANSWER✔✔-histogram
What |is |the |reasoning |behind |setting |the |upper |and |lower |control |limits |
±3σx
from |the |mean |- |CORRECT |ANSWER✔✔-We |know |that |99.73% |of |natural |variation |is |
contained |within |
