QDM Questions

Which of the following is a quantitative forecasting​ method? A.exponential smoothing B.jury of executive opinion C.market survey D.sales force composite

A.exponential smoothing

A large percentage of the revenue of most firms is spent on which​ function? A.operations B.finance C.marketing D.research and development

A.operations

A team of sports analysts uses the number of practice games played to predict the team ranking in the next season. Based on previous records, a regression model is proposed. What can we learn from the following: y=40.972-3.23x R^2=0.951

About 95.1% of the data variation is explained by this regression model .

Which of the following activities at a commercial bank is not an operations activity? A.security B.check clearing C.maintenance D.auditing

Auditing

Competing on differentiation is A.concerned with reliability of scheduling. B.concerned with uniqueness. C.based upon flexibility. D.based upon​ low-cost leadership.

B.concerned with uniqueness.

Which of these is NOT one of the 10 strategic OM​ decisions? A.layout strategies B.managing quality C.marketing D.scheduling

C.marketing

What is a data pattern that repeats itself after a period of​ days, weeks,​ months, or​ quarters? A.trend B.random variation C.seasonality D.cycle

C.seasonality

The forecasting time horizon that would typically be easiest to predict for would be the A.long range. B.medium range. C.short range. D.intermediate range.

C.short range

Which of the following statements is NOT​ true? A. When capacity is​ inadequate, customers can be lost. B.When capacity is​ inadequate, market share can shrink. C.When excess capacity​ exists, cost can increase. D.When excess capacity​ exists, cost can decrease.

D.When excess capacity​ exists, cost can decrease.

The ratio of all resources to the goods and services produced is referred as A.single-factor productivity. B.labor productivity. C.productivity growth. D.multifactor productivity.

D.multifactor productivity.

Which forecasting method considers several variables that are related to the variable being​ predicted? A.simple regression B.weighted moving average C.exponential smoothing D.multiple regression

D.multiple regression

Which feature in excel allows you to produce multiple results by changing one or two variables in your formula? A.Goal seek B.Excel Solver C.IF function D.Data Table

Data table

Which of the following is NOT a step in the​ factor-rating method to rate outsource​ providers? A.Assign points for each factor to each provider. B.Multiply the ratings by the applicable weights. C.Assign importance weights to each of the factor. D.Divide the ratings by the applicable weights.

Divide the ratings by the applicable weights.

How is the EF​ computed? A.Min{LS of all immediate following​ activities} B.ES​ + Activity time C.LF −Activity time D.Max{EF of all immediate​ predecessors}

ES​ + Activity time

Which of the following statements is incorrect about the mission? A.The mission statement provides the concept around which the firm can rally. B.The mission states that rationale for the organization existence. C.Each fundamental area within the firm cannot develop its own supporting mission. D.The mission statement provides boundaries and focus for organizations.

Each fundamental area within the firm cannot develop its own supporting mission.

The person who introduced standardized, interchangeable parts was

Eli Whitney

T/F: The critical path is the path with the highest crashing cost through a network.

False

T/F: The surge in demand caused by the launching of a Nintendo game console is a seasonality pattern;

False

Under what circumstances should we pay special attention to the​ NON-critical path activities when estimating project completion time​ variance? A.If the​ non-critical path activities have a large slack B.If there are a small number of​ non-critical path activities C.If the​ non-critical path activities have high variance D.Under no circumstances

If the​ non-critical path activities have high variance

Which of the following is NOT one of the reasons operations managers want to work with their supply chains to viciously cut inventories at every​ level? A.Inventory provides safety against​ higher-than expected demand. B.Inventory requires financial resources. C.Inventory hides quality issues. D.Inventory constrains response to​ ever-shorter product life cycles.

Inventory provides safety against​ higher-than expected demand.

Choose the correct example of response and its explanation below. A.Hard Rock Cafe, as it provides the aroma of fresh coffee or freshly baked bread. B.Hard Rock Cafe, as it engages the customer with classic rock music. C.Johnson Electric, as it competes on speed-speed in design, production, and delivery. D.Johnson Electric, as it specializes in industrial and commercial electrical construction projects.

Johnson Electric, as it competes on speed-speed in design, production, and delivery.

he critical path of a network is the A.path with the most activities. B.Longest time path through the network. C.shortest time path through the network. D.path with the fewest activities.

Longest time path through the network.

Which of the following activity is not part of project scheduling? A.Chart separate schedules for personnel needs by type of skill and material needs. B.Decides how long each activity will take. C.Make sure all necessary activities are finished in proper sequence and on time. D.Arrange the activities in sequence based on order of occurrence.

Make sure all necessary activities are finished in proper sequence and on time.

Which of the following is a basic assumption of​ PERT? A.No activity in the network must be repeated. B.Only critical path activities in the network must be performed. C.There is only one complete route from the start of a project to the end of a project. D.Activity completion times are known with certainty.

No activity in the network must be repeated.

Which of these statements is NOT true about project​ scheduling? A.Project scheduling helps make better use of resources by identifying the​ non-critical paths through the network. B.Project scheduling shows the relationship of each activity to others. C.Project scheduling encourages the setting of realistic time and cost estimates for each activity. D.Project scheduling identifies the precedence relationships among activities.

Project scheduling helps make better use of resources by identifying the​ non-critical paths through the network.

Choose the correct example of cost leadership and its explanation below. A.Hard Rock Cafe, as it engages the customer with classic rock music. B.Hard Rock Cafe, as it provides the aroma of fresh coffee or freshly baked bread. C.Southwest Airlines, as it fulfills a need for low-cost and short-hop flights.

Southwest Airlines, as it fulfills a need for low-cost and short-hop flights.

Choose the correct example of differentiation and its explanation below. A.Starbucks, as it provides the best cheap coffees, including canned, ground, fair trade and organic coffees. B.Johnson Electric, as it competes on speed-speed in design, production, and delivery. C.Starbucks, as it provides the special atmosphere and aroma of fresh coffee.

Starbucks, as it provides the special atmosphere and aroma of fresh coffee.

Which of the following is a limitation of PERT and​ CPM? A.They are applicable to only a narrow variety of projects and industries. B.They can be used only to monitor schedules. C.There is the inherent danger of placing too much emphasis on the critical path. D.The graphical nature of a network delays comprehension of the activity​ list's interrelationships.

There is the inherent danger of placing too much emphasis on the critical path.

T/F: An organization's mission identifies its purpose and strategy is the action plan to achieve the mission.

True

T/F: PERT uses three time estimates to model the distribution of the activity time

True

The person who believed that management must do more to improve the work environment and processes so that quality can be improved was A.Walter Shewhart. B.W. Edwards Deming. C.Eli Whitney. D.Henry Ford.

W. Edwards Deming.

A strategy is A.a functional area of the firm. B.established prior to establishing a mission. C.an action plan to achieve a mission. D.the purpose for which an organization is established.

an action plan to achieve a mission.

The creation of a unique advantage over competitors is referred as A.differentiation. B.experience differentiation. C.response. D.competitive advantage.

competitive advantage.

A set of​ skills, talents, and capabilities in which a firm is particularly strong is referred to as A.key success factors​ (KSFs). B.core competencies. C.differentiation. D.experience differentiation.

core competencies

What is the shortest duration required to complete an​ activity? A.most likely time B.optimistic time C.pessimistic time D.crash time

crash time

Which of the following is NOT one of the 10 strategic OM decisions listed in the​ text? A.quality B.finance/accounting C.location D.layout

finance/accounting

Which of the following will increase labor productivity?

increase production outputs while decrease the labor inputs

Which of the following is NOT one of the three strategic approaches to competitive advantage? A.innovation B.differentiation C.response D.cost leadership

innovation

Productivity increases when A.outputs decrease while inputs remain the same. B.inputs and outputs increase proportionately. C.inputs decrease while outputs remain the same. D.inputs increase while outputs remain the same.

inputs decrease while outputs remain the same.

Which of the following is the purpose or rationale for an​ organization's existence? A.articles of incorporation B.strategy C.charter D.mission

mission

Which of the following does NOT belong to the planning phase of project​ management? A.goal setting B.monitoring resources C.team organization D.defining the project

monitoring resources

Among the​ following, critical path and slack time analysis MOST help A.highlight relationships among project activities. B.managers define the project activities. C.point out who is responsible for various activities. D.pinpoint activities that need to be closely watched.

pinpoint activities that need to be closely watched.

The three phases involved in the management of large projects are A.scheduling, designing, and operating. B.​planning, scheduling, and evaluating. C.planning, scheduling, and controlling D.scheduling, operating, and evaluating.

planning, scheduling, and controlling

Which of these is NOT an advantage of​ outsourcing? A.potential creation of future competition B.accessing outside technology C.cost savings D.gaining outside expertise

potential creation of future competition

Which of the following is NOT considered to be one of the three primary functions that all organizations​ perform? A.marketing B.research and development C.production/operations D.finance/accounting

research and development

Which of the following is NOT part of project​ controlling? A.shifting resources to where they are needed most B.sequencing and allotting time to all project activities C.using a feedback loop to revise the project plan D.close monitoring of​ resources, costs,​ quality, and budgets

sequencing and allotting time to all project activities

Which of these time estimates is NOT used in​ PERT? A.optimistic time B.most likely time C.standard time D.pessimistic time

standard time

Which of the following is the THIRD level in work breakdown structure​ (WBS)? A.subtasks in major tasks B.activities to be completed C.major tasks in the project D.project

subtasks in major tasks