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exam - business oprtion

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Question 1;1. Comparing goods and services, the similarities stop, and significant differences occur, when the operations involve contact between people.;True;False;2.5 points;Question 2;1. Production and operations management is linked to all other managerial functions in the organization and is applicable to both manufacturing and services.;True;False;2.5 points;Question 3;1. When bureaucracy gains control of an organization, it strives to remove corrective counter swings and maintain existing conditions.;True;False;2.5 points;Question 4;1. The stages of history have moved production and operations capabilities from low-volume custom work through high-volume rapid and continuous output systems.;True;False;2.5 points;Question 5;1. With the _____ approach, operations management is expected to perform with minimum reference to other parts of the business. This approach concentrates on the specific tasks that must be done to make the product or deliver the service.;systems;customer relationship;functional field;operations;2.5 points;Question 6;1. Managing a sports team is an excellent example of a purposeful effort that is enhanced by using the _____ approach.;systems;customer relationship;functional field;operations;2.5 points;Question 7;1. Similarities between services and manufacturing can be noted when service operations are based upon _____ in information processing.;identical methods;repetitive steps;high volume;similar steps;2.5 points;Question 8;1. One of the most important functions of the P/OM system is _____. Raw materials and components have lower utility (for customers) before this function is employed.;transformation;translation;creation;production;2.5 points;Question 9;1. _____ needed to carry out the transformation function determines the production rate.;Time;Space;Input;Cost;2.5 points;Question 10;1. A Stage _____ company is a P/OM innovator. It has short and long term planning horizons that are integrated.;IV;V;I;III;2.5 points;Question 11;1. _____ is the stage at which P/OM development is internally supportive to the company?s competitive position.;Stage I;Stage II;Stage III;Stage IV;2.5 points;Question 12;1. P/OM strategic thinking is used to help find the best product line for the marketplace and then to make these products at the___.;lowest cost.;highest quality.;maximum productivity level.;all of the above;2.5 points;Question 13;1. The supplier-producer-customer value chain, by definition adds value at every step, which illustrates strategic impact operating on a _____ scale.;local;organizational;global;centralized;2.5 points;Question 14;1. A first major step in the history of P/OM development was;scientific management.;lean production systems.;interchangeable parts.;global competition.;2.5 points;Question 15;1. In 1912, _____ developed sequenced assembly, which allows assembly to be a continuous flow shop process.;Adam Smith;Henry Ford;Frederick W. Taylor;Walter Shewhart;2.5 points;Question 16;1. Often _____ technology is imposed on _____ processes by employees who lack training and experience with the new technology. Product life is short. This allows little time to enjoy the advantages of new technology applied to evanescent and even obsolescent product lines.;new, old;new, new;old, old;old, new;2.5 points;Question 17;1. If inputs increase by 30% and outputs decrease by 15%, what is the percentage change in productivity?;100% decrease;11.54% increase;34.62% decrease;15% increase;15% decrease;2.5 points;Question 18;1. A firm produces handbags using three workers. On Tuesday, Jane completed 60 bags in 6 hours, Ron completed 50 bags in 7 hours, and Mary completed 80 bags in 5 hours. What was the overall productivity of the firm?;7.92 bags/hour;11.05 bags/hour;10.00 bags/hour;10.56 bags/hour;61.67 bags/hour;2.5 points;Question 19;1. Rodrigo employs five workers. He collected the following data from last week.;Worker Hours Units Completed;Oscar 40 60;Sonia 32 68;Cesar 50 78;Jessica 36 70;Rita 44 74;2.;Which painter was least productive last week?;Oscar;Sonia;Cesar;Jessica;Rita;2.5 points;Question 20;1. A company used to produce 300 units every day, but 20% of the units were defective. After installing a new process, the defect rate has been reduced to 5%, while output hasremained the same. What is the percent increase in productivity due to installing the new process?;15.79%;0.00%;15.00%;18.75%;-75.00%;2.5 points;Question 21;1. Based on the demand data for an item A for last two weeks, you do a trend analysis and find the trend equation to be Y = 50 + 4X. The company works five days (Monday through Friday) per week. Make a forecast for Tuesday of week 3 for this product.;62;58;98;114;Can not be determined;5 points;Question 22;1. Given the following data, use exponential smoothing (? =.2) to develop a demand forecast for period 3. Assume the forecast for the initial period (period 1) is 5. What is the forecast for period 3? (Note: You do not need additional information to answer this question).;Period Demand;1 7;2 9;2.;4.68;5.40;6.12;9.00;Can not be determined;5 points;Question 23;1. Joe's Equipment Distributors sells "Low and Loud" brand lawnmowers. Total demand in 2010 is expected to be 2000 units. Given the historical sales figures listed below, find the forecast for the summer quarter in 2010 using the seasonal forecasting model.;2. 2007 2008 2009;Fall 50 80 120;Winter 150 450 510;Spring 500 600 700;Summer 400 490 610;3.;Close to 452;Close to 654;Close to 500;Close to 610;Close to 800;5 points;Question 24;1. A firm has the following order history over the last 6 months.;January 120;February 95;March 100;April 75;May 100;June 50;2.;What would be a 3-month weighted moving average forecast for July, using weights of 40% for the most recent month, 30% for the month preceding the most recent month, and 30% for the month preceding that one?;Close to 105;Close to 76;Close to 75;Close to 74;Close to 72;5 points;Question 25;1. What is the mean absolute deviation of the following forecasts?;Month Actual Sales Forecast;Jan. 614 600;Feb. 480 480;Mar. 500 550;Apr. 500 600;41;-34;164;100;25;5 points;Question 26;1. Consider the data listed below.;Month Actual Demand Forecast (using 4-month moving average);Jan. 10,000;May 14,000 13,500;2.;What is the 4-month moving average forecast for June? Identify the correct answer. (Note: You do not need additional information to answer this question).;14,000;Not enough information is given to answer the question.;14,500;13,500;15,333;5 points;Question 27;1. In exponential smoothing, what values can the smoothing constant,?, have?;[-1 to 1];[1 to?];[0 to?];[0 to 1];[-? to?];5 points;Question 28;1. The larger the value of? in the exponential smoothing method of forecasting method, the greater the method's responsiveness to changes in demand.;True;False;5 points;Question 29;1. Find the value of the tracking signal at the end of month 6 based on the actual demand and forecast given in the following table.;Month 1 2 3 4 5 6;Actual Demand 715 675 640 587 702 760;Forecast 700 645 660 648 655 718;2.;Close to 1.46;Close to 1.48;Close to 1.50;Close to 35;Close to 53;5 points;Question 30;1. Which of the following statements is true on the basis of the six-month data given in the following table?;Month 1 2 3 4 5 6;Actual Demand 715 675 640 587 702 760;Forecast 700 645 660 648 655 718;2.;The demand is being overestimated.;The demand is being underestimated.

 

Paper#30334 | Written in 18-Jul-2015

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