MAN4504 Final
longest duration
In a project network, the critical path is the sequence of activities which has the:
True
Run tests are useful in helping to identify nonrandom variations in a process.
minimize
The center of gravity method is used to ________ travel time, distance, and costs.
.025, .011
Using samples of 200 credit card statements, an auditor found the following Estimate the mean and the standard distribution of the sampling distribution. Round all values to a maximum of four decimals Answer written Mean, Standard Dev.
.025
Using samples of 200 credit card statements, an auditor found the following If the true fraction (proportion) defective is unknown, estimate the fraction defective. Round all values to a maximum of four decimals.
True
Variability in demand and/or lead time can be compensated for by safety stock.
7.07
A company is about to begin production of a new product. The manager of the department that will produce one of the components for the product wants to know how often the machine used to produce the item will be available for other work. The machine will produce the item at a rate of 200 units a day. Eighty units will be used daily in assembling the final product. Assembly will take place five days a week, 50 weeks a year. The manager estimates that it will take almost a full day to get the machine ready for a production run, at a cost of $300. Inventory holding costs will be $10 a year. How many days does it take to produce the optimal run quantity?
424.2
A company is about to begin production of a new product. The manager of the department that will produce one of the components for the product wants to know how often the machine used to produce the item will be available for other work. The machine will produce the item at a rate of 200 units a day. Eighty units will be used daily in assembling the final product. Assembly will take place five days a week, 50 weeks a year. The manager estimates that it will take almost a full day to get the machine ready for a production run, at a cost of $300. Inventory holding costs will be $10 a year. What is the average amount of inventory?
1414
A company is about to begin production of a new product. The manager of the department that will produce one of the components for the product wants to know how often the machine used to produce the item will be available for other work. The machine will produce the item at a rate of 200 units a day. Eighty units will be used daily in assembling the final product. Assembly will take place five days a week, 50 weeks a year. The manager estimates that it will take almost a full day to get the machine ready for a production run, at a cost of $300. Inventory holding costs will be $10 a year. What run quantity should be used to minimize total annual costs?
15.59
A hot dog company can produce hot dogs at a rate of 5,000 per day. The company supplies hot dogs to local restaurants at a steady rate of 250 per day. The cost to prepare the equipment for producing hot dogs is $66. Annual holding costs are 45 cents per hot dog. The factory operates 300 days a year. Find the number of runs per year.
4812
A hot dog company can produce hot dogs at a rate of 5,000 per day. The company supplies hot dogs to local restaurants at a steady rate of 250 per day. The cost to prepare the equipment for producing hot dogs is $66. Annual holding costs are 45 cents per hot dog. The factory operates 300 days a year. Find the optimal run size.
0.96
A hot dog company can produce hot dogs at a rate of 5,000 per day. The company supplies hot dogs to local restaurants at a steady rate of 250 per day. The cost to prepare the equipment for producing hot dogs is $66. Annual holding costs are 45 cents per hot dog. The factory operates 300 days a year. How many days does it take to produce the optimal run quantity?
Increase, 78.71 per year
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Assuming that holding cost per bag increases by $9/bag/year, what would happen to total Answer is written Increase or Decrease, xx.xx per year
1350
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Compute the total cost of ordering and carrying flour.
18
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Determine the economic order quantity.
67.5
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. How many orders per year will there be?
9
A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. What is the average number of bags on hand?
6118.82
A large law firm uses an average of 40 boxes of copier paper a day. The firm operates 260 days a year. Storage and handling costs for the paper are $30 a year per box, and it costs approximately $60 to order and receive a shipment of paper. Determine total cost?
204
A large law firm uses an average of 40 boxes of copier paper a day. The firm operates 260 days a year. Storage and handling costs for the paper are $30 a year per box, and it costs approximately $60 to order and receive a shipment of paper. What order size would minimize the sum of annual ordering and carrying costs?
reject both locations.
A location analysis has been narrowed down to two locations, Akron and Boston. The main factors in the decision will be the supply of raw materials, which has a weight of .50, transportation cost, which has a weight of .40, and labor cost, which has a weight of .10. The scores for raw materials, transportation, and labor are for Akron 60, 80, and 70, respectively; for Boston 70, 50, and 90, respectively. Given this information and a minimum acceptable composite score of 75, we can say that the manager should:
True
A lower control limit must by definition be a value less than an upper control limit.
$300,000
A manufacturing firm is considering two locations for a plant to produce a new product. The two locations have fixed and variable costs as follows:
II and III
A plot below the lower control limit on the range chart: (I) should be ignored since lower variation is desirable. (II) may be an indication that process variation has decreased. (III) should be investigated for assignable cause.
20
A project is represented by the following diagram. The expected duration of this project is:
Monday
A quality analyst wants to construct a sample mean chart for controlling a packaging process. He knows from past experience that whenever this process is under control, package weight is normally distributed with a mean of 20 ounces and a standard deviation of two ounces. Each day last week, he randomly selected four packages and weighed each. If he uses upper and lower control limits of 22 and 18 ounces, on what day(s), if any, does this process appear to be out of control?
False
A retail store that carries twice as much inventory as its competitor will provide twice the customer service level.
False
An R value of zero (on a range chart) means that the process must be in control since all sample values are equal.
0.996
An automatic filling machine is used to fill 1-liter bottles of cola. The machine's output is approximately normal with a mean of 1.0 liter and a standard deviation of .01 liter. Output is monitored using means of samples of 25 observations. Determine lower control limit that will include roughly 97 percent of the sample means when the process is in control.
1.004
An automatic filling machine is used to fill 1-liter bottles of cola. The machine's output is approximately normal with a mean of 1.0 liter and a standard deviation of .01 liter. Output is monitored using means of samples of 25 observations. Determine upper control limit that will include roughly 97 percent of the sample means when the process is in control.
No
An automatic filling machine is used to fill 1-liter bottles of cola. The machine's output is approximately normal with a mean of 1.0 liter and a standard deviation of .01 liter. Output is monitored using means of samples of 25 observations. Given these sample means: 1.005, 1.001, .998, 1.002, .995, and .999, is the process in control?
True
Carrying cost is a function of order size; the larger the order, the higher the inventory carrying cost.
23
Consider the portion of a project depicted by this graph. What is the earliest finish time for activity 10-11 (far right-hand side) if the earliest start time of 8-10 (upper left-hand side) is 12 and the earliest start time of 9-10 (lower left-hand side) is
False
Factor rating is limited to quantitative information concerning location decisions.
Yes
Given the following data for the number of defects per spool of cable, using three-sigma limits, is the process in control.
globalization.
Having facilities, personnel, and operations located around the world is called:
20
In the basic EOQ model, an annual demand of 40 units, an ordering cost of $5, and a holding cost of $1 per unit per year will result in an EOQ of:
True
Slack time is equal to LS-ES or LF-EF
.0124
Specifications for a part for a DVD player state that the part should weigh between 24 and 25 ounces. The process that produces the parts yields a mean of 24.5 ounces and a standard deviation of .2 ounce. The distribution of output is normal. A.What percentage of parts will not meet the weight specs?
24.400 to 24.600
Specifications for a part for a DVD player state that the part should weigh between 24 and 25 ounces. The process that produces the parts yields a mean of 24.5 ounces and a standard deviation of .2 ounce. The distribution of output is normal. B.Within what values will 95.44 percent of sample means of this process fall, if samples of n = 16 are taken and the process is in control (random)?
True
The latest starting time for an activity is equal to the latest finish time minus the activity time.
8 cases
The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $.80 per six-pack (each case of Stein beer contains four six-packs). Orders arrive three days from the time they are placed. Daily holding costs are equal to 5 percent of the cost of the beer. If he were to order 16 cases of Stein beer at a time, what would be the average inventory level?
No
The time needed for checking in at a hotel is to be investigated. Historically, the process has had a standard deviation equal to .146. The means of 39 samples of n = 14 are construct an xbar chart for this process with three-sigma limits. is the process in control?
Yes
The time to replace vehicle wiper blades at a service center was monitored using a mean and a range chart. Six samples of n = 20 observations have been obtained and the sample means and ranges computed. Is this process in control?
3.181, 3.019
The time to replace vehicle wiper blades at a service center was monitored using a mean and a range chart. Six samples of n = 20 observations have been obtained and the sample means and ranges computed. Using the factors in the above table, determine the upper and lower control limit for the mean chart. Answer written UCL, LCL
.716, .185
The time to replace vehicle wiper blades at a service center was monitored using a mean and a range chart. Six samples of n = 20 observations have been obtained and the sample means and ranges computed. Using the factors in the above table, determine the upper and lower control limit for the range chart. Answer written UCL, LCL
.0489, .0011
Using samples of 200 credit card statements, an auditor found the following Determine control limits for an alpha risk of .03. Round all p-Chart control limits to four decimals. Answer written UCL, LCL
.0456 and yes
Using samples of 200 credit card statements, an auditor found the following Determine the alpha risk provided by control limits of .047 and .003. Using the control limits, determine if the process is in control Answer written .xxxx and ____
.020, .010, .025, .045
Using samples of 200 credit card statements, an auditor found the following Determine the fraction (proportion) defective for each sample. Round all values to a maximum of four decimals. Answer written .xxx, .xxx, .xxx, .xxx
