[Denis99]

15-If you are making a decision among a

number of alternatives for which the

probabilities of the possible states of

nature are not known, which method or

criterion does not apply?

a-Laplacian
b-MAXIMIN
c-MINIMAX Regret
d-EMV

14-Which of the following describes a

"terminal element" or "work package" in a

Work Breakdown Structure?

a.You can assign resources, costs, and a

schedule to a terminal element.
b. The work package may be broken down into

smaller work packages.
c. The responsibility of the terminal

element is assigned to a specific person or

group.
d.The work package describes work which

will be performed.


13-Which of the following DOES NOT describe

the Work Breakdown Structure of a project?

a.The WBS covers 100% of the project scope.
b.The WBS assigns the person or group

responsible for each task.
c.The WBS describes outcomes or

deliverables rather than effort expended.
d.The WBS is heirarchical or "tree-like" in

structure.

12- You are in charge of a work

package which is NOT on the Critical Path

of your project. Halfway through the

project, you find that you are two days

behind schedule. Will this have an impact

on the completion date of the entire

project?

a-Absolutely yes.
b-Absolutely no.
c-If the slack time originally calculated

for your work package was five days, no.
d-If the slack time originally calculated

for your work package was five days, yes.

11-If a project is both over budget and

behind schedule, which of the following is

true?

a. BCWS > BCWP
b. ACWP > BCWP
c. EAC < BAC
d. EAC < ACWP
e. None of the above.


10-Match the following acronyms with their

significance in project management.

1-BCWS
2-BCWP
3-ACWP
4-BAC
a. The total cost of the project as

originally planned.
b. The cost of the project at any given

time, as originally planned.
c. The originally planned cost of a given

amount of work completed at any time.
d. The amount of funds expended on the

project at any given time.



9-Your manufacturing plant has 20 identical machines, each of which which perform a vacuum seal test on hundreds of glass ampuoles per day. Each machine inspects the product from a sealing machine immediately behind it. The testing machines are checked and serviced by the manufacturer on a weekly basis, and are guaranteed to be running according to specifications. Each line produces an average of only 3 or 4 defective ampuoles per day. These are discarded as scrap. You are going to set up a QC program to monitor the performance of the sealing machines and keep them working well. What kind of Quality Control Chart would you want to employ in this program?

a.X-bar cha
b.R chart
c.p chart
d.c chart

8-You are a buyer bidding sight unseen on a lot of 10,000 uncut diamonds. You are able to take a random sample of 100 stones from the lot. You determine that the mean weight of the sample is 1.52 ct with a standard deviation of 0.11 ct. Before making a bid, you need to estimate the percentage of the stones which will yield a finished or cut diamond of less than 1.00 ct. You know that on average, the cutting and finishing process yields a stone with 2/3 the weight of the uncut raw material. Based on this information, what would you estimate the number of "rejects" (stones yielding a finished diamond of less than 1.00 ct) to be?



7-An American style roulette wheel has individual compartments for the numbers 1 to 36 inclusive, plus 0 and 00. If a bettor bets on a single number and hits, he gets a payoff of 35:1, assuming that the wheel has not been tampered with. That is to say, on a $1 bet, if the number comes up, the bettor receives $35. If the number does not come up, he loses his $1 bet. A bettor steps up to a regulation wheel at Atlantic City with $1,000 worth of chips. He begins to place single-number bets of $10 each, one at a time. After 100 bets have been placed, what is the expected value of the chips that the bettor has?

6-The USDA size standards for eggs are based on weight and are as follows:

SMALL: greater than 43 grams, less than 50 grams

MEDIUM: greater than 50 grams, less than 57 grams

LARGE: greater than 57 grams, less than 64 grams

EXTRA LARGE: greater than 64 grams, less than 71 grams

JUMBO: greater than 71 grams

The output of a particular egg farm has a mean weight of 62 grams with a standard deviation of 8 grams. What is the size category in which most of the eggs from this farm fall?

a-SMALL or smaller.
b-MEDIUM
c-LARGE
d-EXTRA LARGE and LARGER

5- You are a Delaware State Trooper on a roadblock. Since it is New Years' Eve, you know from prior experience that approximately 5% of the drivers on the road have a blood alcohol content (BAC) over the legal limit of 0.08%. Your portable brethalyzer gives a PASS/FAIL reading. From prior experience and the manufacturer's data, you know that the breathalyzer has a "hit rate" of 90% and a "false positive rate" of 20%. This means that if the breathalyzer says "FAIL," there is a 90% chance of it being correct if the subject is legally DUI and a 20% chaance of a FAIL reading even if the subject is not legally intoxicated. You stop a driver at random and test him. He blows a "PASS," so you let him go. What is probability that the driver was legally DUI?

[Curlyben]

Thank you for taking the time to copy your homework to AMHD.
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[morgaine300]

I have to say that is an awful lot of work to expect someone here to go through without showing your attempts at solving it yourself first. Given the different topics it covers, I even wonder if it is a test.

It also belongs under math & science, not under finance & accounting.