Quiz questions
Good relationship with outside contractors
A good core competency for a company to compete on cost?
Actual demand for August
A naïve forecast for September sales of a product would be equal to:
Determines that workers should have had side duties (stocking, etc.)
An auto repair shop does state inspections for autos. The design capacity is 20 per hour and the effective capacity is 8 per hour. Yesterday they worked 10 hours and did 50 inspections. After calculating the utilization and efficiency for the day the manager__:
Station 2
Consider a production line with five stations. Station 1 can produce a unit in 9 minutes. Station 2 can produce a unit in 10 minutes. Station 3 has two identical machines, each of which can process a unit in 12 minutes (each unit only needs to be processed on one of the two machines. Station 4 can produce a unit in 5 minutes. Station 5 can produce a unit in 8 minutes. Which station is the bottleneck station?
Fuel hedging
During 2007 - 08 SW Airlines utilized what very unusual strategy to increase profit?
True
Forecasts may be influenced by a product's position in its life cycle.
By dumping currency into the economy
How does China maintain such a low currency valuation?
Employee utilization was low and labor costs were uncompetitive
In the example I gave of the embroidery operation what was the symptom of the problem?
2511
John's House of Pancakes uses a weighted moving average method to forecast pancake sales. It assigns a weight of 5 to the previous month's demand, 3 to demand two months ago, and 1 to demand three months ago. If sales amounted to 1000 pancakes in May, 2200 pancakes in June, and 3000 pancakes in July, what should be the forecast for August?
87.7%
The Academic Computing Center has five trainers available in its computer labs to provide training sessions to students. Assume that the design capacity of the system is 1900 students per semester and that effective capacity equals 90% of design capacity. If the number of students who actually got their orientation session is 1500, what is the efficiency of the system?
group technology
What 2 words describe what must be used to utilize the "plant within a plant" method?
Some workers seem to be working slower
What happens when improvement is made to efficiency and productivity on assembly line processes that are not the bottleneck?
Bulk purchases
What is a core competency that enables Walmart to compete on cost?
Average length of time to develop new products.services.
What is a good way to measure level of innovation?
44
What is the forecast for May using a four-month moving average? Nov. 39 Dec. 36 Jan. 40 Feb 42 Mar 48 April 46
Workers that have many skills
What would be a good core competency to compete on flexibility?
1.0
Which of the following smoothing constants would make an exponential smoothing forecast equivalent to a naive forecast?
Many quantitative techniques were perfected in the war
Why did employment numbers drop after WW 2?
Housing Bubble
Why did productivity go up in 2008 - 09?
Our currency is higher in valuation than the Canadian dollar
Why do we (US) import so much Canadian oil?
Internally focused people
are going to be upset when something goes wrong however they internalize it and figure out how to improve themselves and make it not happen again
Externally focused people
are the type of people that when something goes wrong they always blame something else
Low volatility-
high alpha
High volatility-
low alpha
Will a high alpha value in exponential smoothing yield a highly variable forecast?
yes
