Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. What is the probability that the project can be completed in 24 days or less?  Time in Days Activity Immediate Predecessor Optimistic Most Likely Pessimistic A – 5 6 7 B – 8 8 11 C A 6 8 10 D – 9 12 15 E C 5 6 9 F D 5 6 7 G F 2 3 7 H B 4 4 5 I H 5 7 8 END E,G,I (Study Guide Question)

Data on the last two years of demand are available as follows Quarter Demand 1 14 2 18 3 35 4 46 1 28 2 36 3 60 4 71   What is the deseasonalized demand for the summer (Quarter 2) of this year if the linear regression trend line for these data is given by Y=14.17+5.06t? (Class Excel Example)

The postmaster of a small western town receives a certain number of complaints each day about mail delivery. Determine three-sigma control limits using the following data.  Day 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Comp. 4 10 14 8 9 6 5 12 13 7 6 4 2 10 What is the UCL?  (Study Guide Question)

If the tracking signals over the previous 5 periods were recorded as follows: 1.1, 2.3, 3.6, 5.1, and 6.4. What can you tell from this information? (Class Example)

Specifications for a part for a DVD player state that the part should weigh between 24 and 25 ounces. The process that produces the parts has a mean of 24.5 ounces and a standard deviation of .2 ounce. The distribution of output is normal. What is the lower bound of the range in which 95.44 percent of the sample mean of this process will fall, if samples of n=16 are taken and the process is in control (random)? (Study Guide Question)

Which of the following considerations is not a factor in deciding which forecasting model a firm should choose? (Textbook Question)

A bakery buys flour in 25-pound bags. The bakery uses 1,215 bags a year. The ordering cost is $10 per order. The annual carrying cost is $75 per bag. How many orders per year will there be? (Study Guide Question)

Department A can produce parts at a rate of 100/day. Department B uses those parts at the rate of 60/day. Each day unused parts are added to the inventory. At what rate does the inventory of unused parts build up? (Study Guide Question)

                is the term used to describe the difference between the cost of inputs and the value or price of outputs.

Which of the following forecasting methodologies is considered a time series forecasting technique? (Textbook Question)