Production and Operations Management quizzes

Question 20 1 / 1 point A product may not necessarily survive its incubation phase, but if it does, it generally enters on a distinct period of _______. rapid growth decline maturity customization

rapid growth

Which of the following activities is an example of e-commerce?

selling homemade birdhouses online

Which of the following activities is an example of e-commerce? outsourcing logistics activities to a provider initiating a corporate responsibility initiative which focuses on the importance of recycling selling homemade birdhouses online storing large amounts of organized data and searching for patterns using data mining

selling homemade birdhouses online

A _____ moving average gives each period within the span of past data the same weight in creating a forecast

simple

Question 10 A _____ moving average gives each period within the span of past data the same weight in creating a forecast. seasonal fixed weighted simple

simple

Question 17 Which time series technique predicts a future value by combining the previous prediction and some portion of the error in that prediction? simple exponential smoothing coefficient of determination naïve forecasting weighted moving average

simple exponential smoothing

Which time series technique predicts a future value by combining the previous prediction and some portion of the error in that prediction?

simple exponential smoothing

Question 18 The alpha value (α) in the exponential smoothing formula is also known as the _____. tracking signal known unknown smoothing constant correlation coefficient

smoothing constant

The alpha value (α) in the exponential smoothing formula is also known as the

smoothing constant

Because _______ addresses the complete, long-term costs of any operation, it might be thought of as the only true total productivity measure.

sustainability

Because _______ addresses the complete, long-term costs of any operation, it might be thought of as the only true total productivity measure. sustainability value-added process selection core competency

sustainability

Which of the following is an example of a customized production process? tailored clothing gasoline bulk food textbooks

tailored clothing

A useful framework describing different kinds of production systems and processes is

the product process matrix

Calculating a regression equation for a given set of data identifies the specific values of

the slope and intercept

Question 3 Calculating a regression equation for a given set of data identifies the specific values of _____. the slope and intercept the correlation coefficient and coefficient of determination the absolute deviation and percent error the natural and assignable variations

the slope and intercept

Question 14 Which of the following is NOT a qualitative method of forecasting? expert opinion panel survey time series analysis Delphi group

time series analysis

Which of the following is NOT a qualitative method of forecasting?

time series analysis

The break-even point is the level of production at which

total revenue and cost are balanced

The break-even point is the level of production at which ________. the cost varies according to the volume of activity total revenue and cost are balanced profits exceed costs the cost of system capacity is equal to total cost

total revenue and cost are balanced

A waiting line is also known as a queue.

true

Most of the time, the length of a queue has no technical limitations. True or False? Question 3 Kee's Bridal Fashions generally orders more dresses than it thinks it will sell so that it can handle an unexpected large volume of business, should it occur. This is an example of ________. unexpected capacity just-in-time order fulfillment predictive inventory capacity cushion

true

A gallon of gasoline being more valuable to a motorist than a gallon of crude oil demonstrates the concept of _______, a simple measure of success in operations strategy

value-added

A gallon of gasoline being more valuable to a motorist than a gallon of crude oil demonstrates the concept of _______, a simple measure of success in operations strategy. value-added productivity incubation customization

value-added

What term is used to describe an organization's defining statement about the future?

vision

What term is used to describe an organization's defining statement about the future? vision strategy values mission none of these

vision

Naïve forecasting assumes that

what will happen next will be the same as what has just happened

In the service-process matrix, food delivery processes that have shorter lead times are

fast food and vending machines

According to the text, organizations that choose to compete through responsiveness must cultivate _______ within their operations, because they cannot know in advance precisely what will be required of them. reliability speed flexibility quality

flexibility

Mean error is an excellent measure of

forecast bias

Mean error is an excellent measure of _____. accuracy trends forecast bias variability

forecast bias

When business units of large organizations develop an individualized vision, mission, and business unit strategy, the problem of _______ becomes critical

goal alignment

When business units of large organizations develop an individualized vision, mission, and business unit strategy, the problem of _______ becomes critical. goal alignment appropriate data mining enterprise resource planning organization sustainability

goal alignment

Causal models are used to predict a value based on

identifying important links between the outcome and other factors in its environment

Question 6 Naïve forecasting assumes that _____. what will happen next will be the same as what has just happened it is not possible to predict with any certainty a future outcome cyclic influences have no bearing on predicting future outcomes deseasonalizing data produces the most detailed forecasts of the future

what will happen next will be the same as what has just happened

Question 15 Which of the following is not a type of qualitative forecasting? jury of executive opinion moving average Delphi method market survey

moving average

Which of the following is not a type of qualitative forecasting?

moving average

Which productivity measure provides a closer approximation to the true productivity of a complex system?

multifactor productivity measure

At what point is a product said to be in the maturity phase of the product life cycle?

when providers of the product saturate the market and demand levels off

In the M/M/1 model, ________ represents the average number of services that can be completed in a designated time interval.

μ (muo)

Question 10 In the M/M/1 model, ________ represents the average number of services that can be completed in a designated time interval. Pn LS λ(lamda) μ (muo)

μ (muo)

Which productivity measure provides a closer approximation to the true productivity of a complex system? partial productivity measure multifactor productivity measure total productivity measure value-added

multifactor productivity measure

Marylee told the customer service rep that she had been waiting for half an hour in line, but she had actually only been waiting 15 minutes. Marylee's stated waiting time was ________ time.

perceived

Question 9 Marylee told the customer service rep that she had been waiting for half an hour in line, but she had actually only been waiting 15 minutes. Marylee's stated waiting time was ________ time. emotional absolute perceived extrapolated

perceived

Retailers like Walmart build multiple stores and focus on sales through in-person shopping, while retailers such as Amazon focus on making the same goods available through online shopping and parcel shipments. This is an example of _______.

process selection

Retailers like Walmart build multiple stores and focus on sales through in-person shopping, while retailers such as Amazon focus on making the same goods available through online shopping and parcel shipments. This is an example of _______. process selection business analytics third-party logistics product selection

process selection

Question 7 Which of the following correlation coefficient values represents the strongest positive correlation between two factors in a data set? r = 0.931 r = 0 r = -1.0 r = -0.872

r = 0.931

Which of the following correlation coefficient values represents the strongest positive correlation between two factors in a data set? r = 0 r = -0.872 r = 0.931 r = -1.0

r = 0.931

A product may not necessarily survive its incubation phase, but if it does, it generally enters on a distinct period of _______.

rapid growth

Which of the following is an example of a mission statement? "Elegance, Comfort, Style, Affordability, and Quality." "To refresh the world, to inspire moments of optimism and happiness, to create value and make a difference." "Be a global leader in customer value." "Leadership, Collaboration, Passion, Diversity, and Integrity."

"To refresh the world, to inspire moments of optimism and happiness, to create value and make a difference."

Question 9 What is the ME for the forecast errors of 5, 10, 0, and -3? 4.5 3 12 2.5

3

What is the ME for the forecast errors of 5, 10, 0, and -3?

3

Question 16 What is the MSE for the forecast errors of 2, 9, and -6? 27.66 1.6 40.33 5.6

40.33

What is the MSE for the forecast errors of 2, 9, and -6?

40.33

Question 2 Several forecasting methods rely on insights from a group of people, but which method does NOT have the group discuss their opinions? crowdsourcing expert opinion panels jury of executive opinion

Delphi groups

Several forecasting methods rely on insights from a group of people, but which method does NOT have the group discuss their opinions?

Delphi groups

_______ is a strategic information system that integrates all functional areas of an organization. Business analytics E-commerce Enterprise resource planning Data mining

Enterprise resource planning

is a strategic information system that integrates all functional areas of an organization

Enterprise resource planning

Effective capacity of a system is expected to be more than its design capacity.

False

________ cost is cost incurred regardless of the volume of associated activity. Scale Determinate Fixed Variable

Fixed

cost is cost incurred regardless of the volume of associated activity.

Fixed

Question 19 1 / 1 point Which of the following is NOT a characteristic of business analytics? It is an iterative process. It depends on the ready availability of quality data. It is a short-term process. It attempts to glean new insight from data.

It is a short-term process.

Which of the following is NOT a characteristic of business analytics?

It is a short-term process.

A tracking signal is a ratio of the sum of forecast errors divided by the ______ of the forecast over the same time period

MAD

A tracking signal is a ratio of the sum of forecast errors divided by the ______ of the forecast over the same time period. MAD MAPE MSE ME

MAD

Question 5 Which of the following forecasting measures calculates the average of the absolute values of a set of forecast errors? ME MSE MAPE MAD

MAD

Which of the following forecasting measures calculates the average of the absolute values of a set of forecast errors?

MAD

Which of the following is an example of a partial productivity measure? customer conversion rates point of sale purchase rates year-to-date profits Megabits per second

Megabits per second

Of the following organizations, which one most likely competes through the dimension of quality?

Mercedes-Benz

Of the following organizations, which one most likely competes through the dimension of quality? Walmart Costco McDonald's Mercedes-Benz

Mercedes-Benz

are the minimum standards that an organization must achieve to simply be considered by the customer.

Order qualifiers

Question 8 The ________ distribution describes the likelihood of a particular number of independent events within a particular interval. FCFS Binomial Poisson Normal

Poisson

The ________ distribution describes the likelihood of a particular number of independent events within a particular interval

Poisson

What is one way in which productivity differs from value-added?

Productivity is not always a comparison of the overall input and output values.

Question 12 _____ analysis uses mathematical relationships between two or more variables to predict future values. Moving average Regression Extrapolation Correlation

Regression

analysis uses mathematical relationships between two or more variables to predict future values

Regression

_______ is a ratio of the combined value of all outputs to the combined value of all inputs of an operation. The multifactor productivity measure Value-added The partial productivity measure The total productivity measure

The total productivity measure

is a ratio of the combined value of all outputs to the combined value of all inputs of an operation.

The total productivity measure

What issue can arise when large corporations organize and evaluate themselves according to their output? The neglect to address the company's need for vision, mission, and value statements. They fail to utilize the advantages obtained through the implementation of business analytics. They fail to look at the company's core competency, which is critical to its long-term success. They fail to balance the company's drive of globalization with the need for sustainability.

They fail to look at the company's core competency, which is critical to its long-term success.

What issue can arise when large corporations organize and evaluate themselves according to their output? The neglect to address the company's need for vision, mission, and value statements. They fail to utilize the advantages obtained through the implementation of business analytics. They fail to look at the company's core competency, which is critical to its long-term success. They fail to balance the company's drive of globalization with the need for sustainability.

They fail to look at the company's core competency, which is critical to its long-term success.

Question 4 Which of the following statements regarding time series techniques is TRUE? Time series techniques attempt to predict a future outcome by identifying important links between the outcome and other factors in its environment. Time series techniques focus on the historical behavior of some outcome of interest to predict its future behavior. Time series techniques are qualitative forecasting measures that rely on an expert's insight. Time series techniques are favored approaches for longer-term forecasting.

Time series techniques focus on the historical behavior of some outcome of interest to predict its future behavior.

Which of the following statements regarding time series techniques is TRUE?

Time series techniques focus on the historical behavior of some outcome of interest to predict its future behavior.

Which of the following is an example of a mission statement?

To refresh the world, to inspire moments of optimism and happiness, to create value and make a difference."

Kee's Bridal Fashions generally orders more dresses than it thinks it will sell so that it can handle an unexpected large volume of business, should it occur. This is an example of ________.

capacity cushion

An ability that distinguishes a business from its competitors is a

core competency

Once an organization has declared its core competency, it typically chooses one or more specific dimensions on which to develop its competitive strategy further. Which of the following is one of those dimensions?

cost

Question 18 1 / 1 point Once an organization has declared its core competency, it typically chooses one or more specific dimensions on which to develop its competitive strategy further. Which of the following is one of those dimensions? potential for globalization cost sustainability technological capacity

cost

The product life cycle model theorizes that any mature product will eventually move into _______. incubation rapid growth customization decline

decline

Question 7 Chicago's new city buses are intended to hold 60 people. This is a measurement of the ________ of the buses. performance utilization capacity design capacity efficiency

design capacity

For output volume, any increase to output level decreases average cost by spreading the fixed cost further. This is known as

economies of scale

For output volume, any increase to output level decreases average cost by spreading the fixed cost further. This is known as ________. economies of scale variable cost fixing diseconomies of scale optimal distribution

economies of scale

Effective capacity of a system is expected to be more than its design capacity. True or False?

false

Question 19 Causal models are used to predict a value based on ______. capturing human intuition identifying important links between the outcome and other factors in its environment the assumption that a future outcome is based on that outcome's historical behavior a small group of highly knowledgeable people who develop predictions through discussion and consensus

identifying important links between the outcome and other factors in its environment

Question 13 What does qualitative forecasting rely upon to develop predictions? intuition useful relationships between a future outcome and known factors historical behavior and extrapolation mathematics

intuition

What does qualitative forecasting rely upon to develop predictions

intuition

Question 8 The forecasting technique that pools the opinions of a group of experts or managers is known as: market survey. the expert judgment model. multiple regression. jury of executive opinion.

jury of executive opinion.

The forecasting technique that pools the opinions of a group of experts or managers is known as

jury of executive opinion.

A _______ system produces high volumes of standardized product.

make-to-stock

A _______ system produces high volumes of standardized product. make-to-stock lean make-to-order product life cycle

make-to-stock

Averaging forecast errors over time results in the performance measure known as

mean error

Question 11 Averaging forecast errors over time results in the performance measure known as _____. mean absolute percent error mean absolute deviation naive forecasting mean error

mean error