Answer the following statements true (T) or false (F)
1. If a project is expected to be completed in 68 days with a project variance of 21 days, the probability that the project will be completed within 90 days is between 5% and 10%.
2. If project completion times are normally distributed, then the due date of a project is to the left of the mean.
3. One of the questions we should ask in determining whether an activity should be accelerated is: How will the project manager benefit from crashing the project?
4. With regard to costs of crashing activities in a project it is usually necessary to crash all activities in a project.
1. False
2. False
3. False
4. False
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The objectivity standards of management accountants state that management accountants must communicate information fairly and objectively. This means essentially that accountants must perform each task
a. as professionals, possessing the degree of skill of those management accountants who held the position before them. b. to provide relevant information, both positive and negative, to the recipients of their reports. c. in conformity with generally accepted accounting principles. d. to the satisfaction of government regulators.
The student body of a large university consists of 65% female students. A random sample of 8 students is selected. What is the probability that among the students in the sample at least 6 are male?
A. 0.0036 B. 0.1691 C. 0.4278 D. 0.0253
Members of quality circles are:
A) paid according to their contribution to quality. B) external consultants designed to provide training in the use of quality tools. C) always machine operators. D) all trained to be facilitators. E) None of the above; all of the statements are false.
Which of the following statements about inventory costing methods is correct?
A. International Financial Reporting Standards (IFRS) allow the use of LIFO but not FIFO. B. A change in inventory method is allowed only if it improves the accuracy of the company's financial results. C. In the U.S., if a company uses LIFO on the income tax return, it may use a different method for financial reporting. D. During a period of rising prices, LIFO results in a higher income tax expense than does FIFO.