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Strayer BUS430 week 6 Quiz Latest 2016 Jan.

Question

Question 1

Which of the following is a short-term capacity decision?

a. Expanding the size and number of beds in a hospital

b. Amount of warehouse space to rent for a new promotional item

c. Closing down a distribution center

d. Changing the cooking technology in a chain of fast-food restaurants

Question 2

All the following are means to adjust short-term capacity except

a. Add peripheral goods and/or services

b. Add or share equipment

c. Sell unused capacity

d. Change labor skill mix

Question 3

Safety capacity is intended for all of the following except

a. power outages

b. equipment breakdowns

c. seasonal demand

d. material shortages

Question 4

A capacity straddle strategy is related to

a. One large capacity increase

b. Small capacity increases that match average demand

c. Small capacity increases that lead demand

d. Small capacity increases that lag demand

Question 5

Safety capacity or a capacity cushion is

a. needed for processes with little demand variability

b. provided for anticipated events

c. generally higher in a job shop

d. not appropriate for service organizations

Question 6

The capacity expansion approach that provides the most safety capacity is

a. One large capacity increase

b. Small capacity increases that match demand

c. Small capacity increases that lead demand

d. Small capacity increases that lag demand

Question 7

Safety capacity or a capacity cushion is

a. Needed for processes with little demand variability

b. Generally higher in a job shop

c. Not appropriate for service organizations

d. Provided for anticipated events

Question 8

C&M Machining is developing plans for a dedicated production line and needs to determine how many drill presses will be needed. Engineering estimates are that one drill press will be able to process 120 parts per hour. Daily demand is 2,400 parts. C&M operates one 8 hour shift per day. How many drill presses are needed to meet the capacity requirements?

a. 2 drills

b. 3 drills

c. 4 drills

d. 5 drills

Question 9

In service organizations, capacity is more often viewed as ____

a. The maximum rate of output per unit time

b. Units of resource availability

c. The ability to meet any customer demand

d. The amount of overtime scheduled

Question 10

Referring to a Revenue Management System (RMS), which of the following is not a component?

a. Marketing

b. Forecasting

c. Pricing

d. Allocating

Question 11

An organization that would typically use a revenue management system is

a. Computer manufacturer

b. Fast food restaurant

c. Car rental company

d. Package delivery service

Question 12

The long-term capacity expansion strategy that can be called a capacity straddle strategy is

a. One large capacity increase

b. Small capacity increases that match demand

c. Small capacity increases that lead demand

d. Small capacity increases that lag demand

Question 13

All the following are means to manage capacity by shifting and stimulating demand except

a. Vary price of goods or services

b. Add peripheral goods and/or services

c. Provide reservations

d. Shift work to slack periods

Question 14

Which of the following is not correct relating to bottleneck resources?

a. Should be scheduled first

b. An hour lost is an hour lost for the entire process or factory output

c. Use large order sizes

d. Should plan safety capacity

Question 15

A doctor's office would charge no-show patients $30 if they did not cancel their appointment 24 hours ahead of the appointment because

a. insurance will pay the no-show fee anyway.

b. the appointment time and associated revenue is perishable, and the doctor may lose revenue.

c. the doctor's office does a poor job of forecasting demand.

d. the no-show price of $30 can be added to medical fees for reimbursement.

Question 16

If actual demand for a product is highly influenced by only random variation, the quantitative technique to use for forecasting demand is

a. Regression

b. Moving average

c. Mean Absolute Percentage Error (MAPE)

d. Delphi

Question 17

____ forecasts are needed to plan work-force levels, allocate budgets among divisions and schedule jobs and resources.

a. Long-range

b. Intermediate-range

c. Short-range

d. Demand planning

Question 18

If single exponential smoothing is used and the time series has a negative trend, the forecast will

a. Lag

b. Overshoot

c. Be on target

d. Have a MAD equal to zero

Question 19

Regression analysis

a. Is limited to one dependent and one independent variable

b. Is best with linear relationships

c. Maximizes the sum of the squared deviations between the actual time series value and the estimated values of the dependent variable

d. Can be used with time as the independent variable

Question 20

All of the following are important concepts in forecasting except

a. Determining the planning horizon length.

b. Determining the time bucket size (i.e., year, quarter, month, week, day, etc.).

c. Using a smoothing constant of 0.1 in Delphi methods of forecasting.

d. Identifying cyclical patterns.

Question 21

Which of the following does not fit with the Delphi method?

a. Group of experts

b. Brought together as a group

c. Process iterates until a consensus is reached

d. Qualitative as well as numerical outputs

Question 22

Which of the following is not a valid approach to gathering data for judgmental forecasting?

a. Questionnaire

b. Telephone contact

c. Personal interview

d. Company records

Question 23

Which of the following is not a statistical method?

a. Delphi

b. Exponential smoothing

c. Moving average

d. Linear regression

Question 24

A tracking signal provides a method for quantifying forecast

a. bias

b. error

c. accuracy

d. outliers

Question 25

A moving average model works best when ____ in the time series.

a. Only irregular variation is present

b. Only a trend is present

c. There is no trend, seasonal, or cyclical pattern

d. Trend, seasonal, and cyclical patterns all exist

Question 26

Which is not true regarding simple exponential smoothing?

a. Small values of alpha (a) place more emphasis on past data

b. Larger values of alpha (a) have the advantage of quickly adjusting the forecast

c. If alpha (a) equals zero, the forecast will never change

d. If alpha (a) equals one, the forecast will never change

Question 27

Exponential smoothing...

a. Works best for long-term forecasting

b. Yields a mathematically optimal solution

c. Assigns weights to past data that decay exponentially as the data gets older

d. Cannot be adapted to handle trend

Question 28

Which of the following is not one of the five characteristics of a time series?

a. Time bucket

b. Trend

c. Cyclical

d. Random variation

Question 29

The forecasting error measurement that is different in that the measurement scale factor is eliminated is

a. MSE

b. MAD

c. RMSE

d. MAPE

Question 30

____ forecasts are needed for planning production schedules and to assign workers to jobs.

a. Long-range

b. Intermediate-range

c. Short-range

d. Demand planning

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