exam 2 multiple choice/true/false

As compared to long-range forecasts, short-range forecasts:

deal with less comprehensive issues supporting management decisions.

Payoffs, alternatives, and expected monetary values are terms associated with

decision trees.

An engineering drawing shows the:

dimensions, tolerances, materials, and finishes of a component.

The larger the number of periods in the simple moving average forecasting method, the greater the method's responsiveness to changes in demand.

false

For a given product demand, the time-series trend equation is 53 - 4x. The negative sign on the slope of the equation:

is an indication that product demand is declining

Yamaha manufactures which set of products with complementary demands to address seasonal variations?

jet skis and snowmobiles

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

jury of executive opinion

Forecasts used for new product planning, capital expenditures, facility location or expansion, and R&D typically utilize a:

long-range time horizon.

The tracking signal is the:

ratio of cumulative error / MAD

Companies can improve the triple bottom line with sustainability by minimizing what four things?

raw material, energy, water, and waste

What is a measure of total greenhouse gas emissions caused directly or indirectly by an organization, a product, an event, or a person?

Carbon footprint

________ expresses the error as a percent of the actual values.

E) MAPE

Which of the following statements about time-series forecasting is true?

It is based on the assumption that the analysis of past demand helps predict future demand

Which of the following is TRUE regarding computer-aided design?

It is the use of computers to interactively design products and prepare engineering documentation.

One advantage of exponential smoothing is the limited amount of record keeping involved.

false

Which of the following shows in schematic form how a product is assembled?

an assembly chart

What type of supply chains consider forward and reverse product flows over the entire life cycle?

closed-loop

The degree or strength of a relationship between two variables is shown by the:

coefficient of correlation.

The fundamental difference between cycles and seasonality is the:

duration of the repeating patterns

Group technology requires that:

each component be identified by a coding scheme that specifies size, shape, and the type of processing.

Which of the following would likely cause a change in market opportunities based upon levels of income and wealth?

economic change

Within environmental regulation, the "cap-and-trade" principle produces a market that allows companies to purchase and sell what?

emission allowances

The dimensions, tolerances, materials, and finishes of a component are typically shown on a(n):

engineering drawing

A naïve forecast for September sales of a product would be equal to the sales in August

false

A work order is a list of the hierarchy of components, their description, and the quantity of each required to make one unit of the product.

false

An assembly chart shows an exploded view of the product, usually a three-dimensional or isometric drawing.

false

Computer-aided design (CAD) refers to the use of specialized computer programs to direct and control manufacturing equipment.

false

In the maturity stage of the product life cycle, operations managers will be particularly concerned with adding capacity or enhancing existing capacity to accommodate the increase in product demand.

false

A forecast with a time horizon of about 3 months to 3 years is typically called a

medium-range forecast.

Which time-series model below assumes that demand in the next period will be equal to the most recent period's demand?

naïve approach

Which of the following is not present in a time series?

operational variations

One way to think of sustainability is to consider the systems necessary to support the triple bottom line of the three Ps, which are:

people, planet, and profit

According to PCN analysis, service operations exist only within the area(s) of:

surrogate interaction and direct interaction

) What refers to meeting the needs of the present without compromising the ability of future generations to meet their needs?

sustainability

Resources held by the public are also said to be held in what?

the common

A design for disassembly cost-benefit analysis compares the amount of revenue that might be reclaimed against the cost of disposing of the product at its end-of-life

true

Demand forecasts serve as inputs to financial, marketing, and personnel planning

true

Firms that do not consider the impact of their decisions on all of their stakeholders see reduced sales and profits.

true

Focus forecasting tries a variety of computer models and selects the best one for a particular application.

true

If a forecast is consistently greater than (or less than) actual values, the forecast is said to be biased

true

In trend projection, the trend component is the slope of the regression equation

true

Most forecasting techniques assume that there is some underlying stability in the system

true

One environmentally friendly approach to product design is to use lighter components

true

The moment-of-truth is the crucial moment between the service provider and the customer that exemplifies, enhances, or detracts from the customer's expectations.

true

The objective of the product decision is to develop and implement a product strategy that meets the demands of the marketplace with a competitive advantage.

true

The quarterly "make meeting" of Lexus dealers is an example of a sales force composite forecast.

true

Those resources held in the common are often misallocated.

true

Within environmental regulation, the "cap-and-trade" principle essentially allows companies to buy and sell the right to pollute.

true

Which of the following is NOT a characteristic of exponential smoothing?

weights each historical value equally