Total Marks: 1
All of the following are examples of Qualitative forecasting except:
Select correct option:
Judgmental
Delphi Method
Consumer Survey
Naïve Forecasting
Question # 3 of 15 ( Start time: 08:30:20 PM )
Total Marks: 1
Which one of the following formula can be used to compute break even point?
Select correct option:
Q = FC / (R + VC)
Q = VC / (R + FC)
Q = VC / (R - VC)
Q = FC / (R - VC)
Question # 4 of 15 ( Start time: 08:31:40 PM )
Total Marks: 1
Which one of the following is an outcome of Maximin criterion?
Select correct option:
The best of the worst possible payoff
The best possible payoff
The best average payoff
The least of the worst regrets
Question # 5 of 15 ( Start time: 08:33:03 PM )
Total Marks: 1
Which of the following ensures that the design meets the performance characteristics that are specified in the product concept?
Select correct option:
Functional design
Production design
Service design
Product design
Question # 6 of 15 ( Start time: 08:34:27 PM )
Total Marks: 1
Following are all examples of distinctive competencies EXCEPT;
Select correct option:
Price
Quality
Planning
Flexibility
Question # 7 of 15 ( Start time: 08:35:31 PM )
Total Marks: 1
Manufacturability is the ease of fabrication and/or assembly which is important for:
Select correct option:
Cost and Productivity
Productivity and Quality
Cost and Quality
Cost, productivity and Quality
Question # 8 of 15 ( Start time: 08:36:56 PM )
Total Marks: 1
Which of the following favors adopting a “go for it” strategy?
Select correct option:
Maximin
Maximax
Minimax regret
Laplace
Question # 9 of 15 ( Start time: 08:37:46 PM )
Total Marks: 1
An example of a business/industry that uses batch flow process structure is:
Select correct option:
Commercial printer
Heavy equipment
Automobile assembly
Sugar refinery
Question # 10 of 15 ( Start time: 08:39:13 PM )
Total Marks: 1
Which one of the following operating levels is best with respect to capacity?
Select correct option:
The maximum point of the cost curve
The level of capacity for which average unit cost is minimized
The level of capacity for which average unit cost is maximized
The level of capacity for which total cost is minimized
Question # 11 of 15 ( Start time: 08:40:37 PM )
Total Marks: 1
The major business functions consisting of research and development, product design, manufacturing, marketing, distribution, and customer service refer to:
Select correct option:
The transformation process
Value chain
Life cycle
Quality control
Question # 12 of 15 ( Start time: 08:42:05 PM )
Total Marks: 1
Within the operations function, which one of the following is a long-term management decision?
Select correct option:
Control decision
Non-operational decision
Strategic decision
Tactical decision
Question # 13 of 15 ( Start time: 08:43:29 PM )
Total Marks: 1
Which one of the following reasons account for using moving average in forecasting?
Select correct option:
It eliminates the trend
It smoothes the random fluctuations
It counteracts the seasonal variations
It approximates the period average
Question # 14 of 15 ( Start time: 08:44:53 PM )
Total Marks: 1
The method that uses explanatory variables to predict the future is known as:
Select correct option:
Delphi method
Naïve forecast
Associative model
Judgmental forecast
Question # 15 of 15 ( Start time: 08:46:12 PM )
Total Marks: 1
Which one of the following forecasting techniques is used to identify a trend when data is neither growing nor declining rapidly and has no seasonal characteristics.
Select correct option:
Simple moving average
Delphi method
Trend adjusted forecast
Naïve forecast
Question # 2 of 15Total Marks: 1Which of the following ensures that the design meets the performance characteristics that are specified in the product concept?Select correct option:Functional designProduction designService designProduct designQuestion # 3 of 15 Total Marks: 1Robustness of a product is _____________ related with the probability of failure.Select correct option:DirectlyInverselyLinearlyQuestion # 4 of 15 Total Marks: 1Which one of the following refers to the maximum output that a firm can produce under ideal conditions?Select correct option:Design capacityEffective capacityCapacity planningQuestion # 5 of 15Forecasts help managers by reducing the degree of:Select correct option:AccuracyPrecisionUncertaintycertanityQuestion # 6 of 15Total Marks: 1Which one of the following reasons account for using moving average in forecasting?Select correct option:Question # 7 of 15 Services differ from manufacturing in all the following ways EXCEPT:Select correct option:Customers typically interact directly with the service delivery processConsumption and production take place simultaneously.Services are intangibleServices cannot be storedQuestion # 8 of 15 Total Marks: 1Which one of the following is an outcome of Maximin criterion?Select correct option:The best of the worst possible payoffThe best possible payoffThe best average payoffThe least of the worst regretsQuestion # 9 of 15Total Marks: 1Which of the following statements corresponds to an order-winning characteristic?Select correct option:A factor which may be significant in other parts of the organizationA factor which gives an organization a competitive edgeA factor which serves as a minimum standard for purchaseA factor which increases the profitability of the organizationQuestion # 10 of 15 Which of the following provide guidance and directions for carrying out operations?Select correct option:TacticsStrategiesPoliciesMissionQuestion # 11 of 15The frequency of capacity choice decisions is influenced by all of the following factors EXCEPT:Select correct option:Stability of demandTechnological changesCompetitive forcesCost factorQuestion # 12 of 15Which one of the following represents a use of cost-volume analysis?Select correct option:It is a tool for reliability measurementIt provides a base for marketing researchIt helps in identification of cost related to productionIt is important in product designQuestion # 13 of 15The forecasting model that attempts to predict the future value based on the past data is known as:Select correct option:Delphi MethodTime series AnalysisAssociative ModelsNaïve ForecastingQuestion # 14 of 15 Which ONE of the following forms a bridge between two islands of Engineering and Management?Select correct option:Production EngineeringOperations ManagementIndustrial ManagementOperations EngineeringQuestion # 15 of 15Which one of the following is an implication of laplace approach of decision making?Select correct option:The best of the worst possible payoffThe best possible payoffThe best average payoffThe least of the worst regrets
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