Industrial Engineering and Production Management
The critical path of a network represents

Minimum cost required for completion of project
The minimum time required for completion of project
The maximum time required for completion of project
Maximum cost required for completion of project

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Industrial Engineering and Production Management
Slack represents the difference between the

Normal allowable time and the latest expected time
Proposed allowable time and the earliest expected time
Latest allowable time and the normal expected time
Latest allowable time and the earliest expected time

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Industrial Engineering and Production Management
In queuing theory, the nature of the waiting situation can be studied and analysed mathematically if

Complete details of items in, waiting line are known
The laws governing arrivals, service times, and the order in which the arriving units are taken into source are known
Arrival and waiting times are known and can be grouped to form a waiting line model
All variables and constants are known and form a linear equation

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