What are the three elements of the service package?
a) physical goods, sensual benefits, and psychological benefits
b) sales, return policy, and warranty
c) customer service, return policy, and warranty
d) kindness, information provision, and speed
e) physiological benefits, sensual benefits, and psychological benefits
Quality in just-in-time is centered on building quality into the
a) Product
b) Maintenance of equipment
c) Process
d) Distribution system
e) Workforce
What is the mean absolute deviation and mean squared error of the following forecast
a) 13, 157
b) 14, 321
c) 16, 312
d) 17, 316
e) 18, 321
A c-chart is an example of what?
a) Traditional statistical tools
b) Fishbone diagramming
c) Acceptance sampling
d) Experimental design
e) Statistical process control
In choosing a location, the _____________________ provides an easy way to calculate
X and Y coordinates for a good starting point.
a) transportation method
b) break-even approach
c) factor rating method
d) center of gravity approach
e) load-distance method
An activity in a network diagram has an optimistic time estimate of five days, a most
likely time estimate of seven days, and a pessimistic time estimate of 15 days. Its
expected time is _________________.
a) 5 days
b) 7 days
c) 8 days
d) 10 days
e) 15 days
Compared to intermittent operations, repetitive operations
a) have higher material handling costs
b) have greater efficiency
c) have slower processing rates
d) have more flexibility
e) are less specialized
A Dallas firm manufactures dishwashing liquid. The manager wants to evaluate the
performance of station 3, the bottleneck in the filling operation. The following output
report is given.
Calculate the cumulative deviation of the output at the end of period 3.
a) -20
b) -40
c) 10
d) 20
e) 40
In making a forward pass through a network, three activities are immediate
predecessors for activity T. What is the early start time for activity T?
a) the smallest ES for the three activities that are immediate predecessors for activity T
b) the largest ES for the three activities that are immediate predecessors for activity T
c) the smallest EF for the three activities that are immediate predecessors for activity T
d) the largest EF for the three activities that are immediate predecessors for activity T
e) the activity time for activity T
Companies use ____________ to check that enough work is scheduled for operations
and that the amount of work scheduled is feasible.
a) capacity management
b) closed-loop requirements planning
c) cut requirements planning
d) capacity resources planning
e) capacity requirements planning
What are the two major decisions to be made when using the periodic review system?
a) the time between orders and the target inventory level
b) the time between orders and the on-hand inventory
c) the target inventory level and the on-hand inventory
d) the time between orders and the order quantity
e) the target inventory level and the order quantity
When evaluating the production plan you should use all but which of the following:
a) total/unit cost
b) inventory levels
c) number of back orders
d) effect on marketing plan
e) effect on workforces
What occurs when a customer decides not to enter the waiting line?
a) vacillating
b) walking
c) reneging
d) balking
e) jockeying
A constraint in Excel Solver consists of what three pieces of information?
a) Target Cell, relationship operator, and Constraint
b) Target Cell, Changing Cells, and Constraint
c) Cell Reference, relationship operator, and Constraint
d) Cell Reference, Changing Cells, and Constraint
e) Target Cell, Changing Cells, and Cell Reference
Which of the following is not one of the standard items included in a footer?
a) worksheet name
b) author name
c) solution time
d) date
e) time
List possible priority rules for waiting line systems.
How does material move in a product layout?
Partnerships between supplier and purchaser are easier to develop when there is (are)
______________________ supplier(s).
Identify the three assumptions the textbook uses for the single-line, multi-server,
single-phase model.
While service and manufacturing firms contribute more to the economy and offer more
jobs at all levels, ________________________ are also important to our lives and the
economy.
Substituting technology for people has been argued to reduce what in the service
delivery?
A portfolio manager in charge of a bank portfolio has $10 million to invest. The
securities available for purchase, as well as their respective quality ratings, maturities,
and yields, are shown in the table below:
The bank places the following policy limitations on the portfolio manager’s actions:
1> Government and agency bonds must total at least $4 million.
2> The average quality of the portfolio cannot exceed 1.4 on the bank’s quality scale.
(Note that a low number on this scale means a high-quality bond.)
3> The average years to maturity of the portfolio must not exceed 5 years.
Assuming that the objective of the portfolio manager is to maximize after-tax earnings
and that the tax rate is 50%, formulate a linear program that can be used to determine
how much money to invest in each type of bond.
_________________ uses planned order releases from the MRP, which considers
beginning inventory.