1 answer

93 Question 47 2.75 points Save Answer Exhibit 14.3 The following questions are based on the...

Question:

Question 47 2.75 points Save Answer Exhibit 14.3 The following questions are based on the information below. An investor is cQuestion 98 Activity-on-Arc (AOA) networks do not allow multiple arcs with common start and finish nodes. If this must be rep

93

The term time zero identifies o a. the start time for each activity. o b. days with not wasted effort. o c. the start time

Question 47 2.75 points Save Answer Exhibit 14.3 The following questions are based on the information below. An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the decision problem. The investor has estimated the probability of a declining economy at 70% and an expanding economy at 30%. A B с D E F G | Η Payoff Matrix Regret Matrix 3 Economy Economy 4 Investment Decline Expand EMV Investment Decline EOL 5 A -10 90 A 6 B 20 50 B с 40 45 с 8 Bank 15 20 Bank 9 10 Probability 0.7 0.3 Probability 0.7 0.3 Refer to Exhibit 14.3. What is the expected monetary value of Investment A? o a. 34. o b. 15. O c. 20. o d. 30.
Question 98 Activity-on-Arc (AOA) networks do not allow multiple arcs with common start and finish nodes. If this must be represented, how is an AOA network modified? o a. Phantom (dummy) activity arcs are added. o b. The network is redrawn into an Activity-on-Node network. oc. Zero duration activity arcs are added. od. Connect the arcs to the node using an IFERROR() function.
The term "time zero" identifies o a. the start time for each activity. o b. days with not wasted effort. o c. the start time for the project. o d. midnight on each work day.

Answers

47. Answer: c. 20

Expected Monetary Value (EMV) of Investment A = ( Payoff of A during Declining Economy x Probability of Declining Economy) + ( Payoff of A during Expanding Economy x Probability of Expanding Economy)

= (-10 x 0.7) + ( 90 x 0.3)

= -7 + 27

= 20

98. Answer: a. Phantom (dummy) arcs are added

To represent multiple arcs with a common start and finish nodes in AOA networks, phantom or dummy activity arcs are added.  Dummy activities have zero completion time and they represent precedence relationships that cannot be represented using the activities in an AOA network.

93.

Answer: c. the start time for the project

Time zero represents the start time of a project.

.

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