Questions of MGT613 Papers (Session2) on 4.dec.2009:
2 Question 5 Marks each
1. define competitiveness?
2. Why companies dont go with perfect competition and use monopoly?
2 Question 5 Marks each
1. define competitiveness?
2. Why companies dont go with perfect competition and use monopoly?
Other Paper
*Question No: 1 ( Marks: 1 ) - Please choose one***
*** *Who developed the use of standardization in large-scale mass production using a moving assembly line?
► Frederick Winslow Taylor
*► **Frank Gilbreth***
► Adam Smith
► Henry Ford
**
*Question No: 2 ( Marks: 1 ) - Please choose one***
*** *The management of systems or processes that creates goods and provides services is known as*:***
* ► **Operation Management***
► Operation/production Management
► Operation/Research Management
► Production/Research Management
**
*Question No: 3 ( Marks: 1 ) - Please choose one***
*** *Which of the following statements corresponds to an order-winning characteristic?
► A factor which may be significant in other parts of the organization
*► **A factor which gives an organization a competitive edge***
► A factor which serves as a minimum standard for purchase
► A factor which increases the profitability of the organization
**
*Question No: 4 ( Marks: 1 ) - Please choose one***
*** *Which one of the following correctly explains the quantitative forecasting technique?
► It consists mainly of numerical descriptions and resist subjective inputs of managers.
► It consists mainly of subjective inputs and resist particular numerical descriptions.
► It consists mainly of subjective inputs and resisit human factor, personal opinions.
*► **It consists mainly of analyzing objective and hard data and resist human factor, opinion.***
**
*Question No: 5 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a pessimistic approach in decision making theory?
* ► **Maximin***
► Maximax
► Minimax regret
► Laplace
**
*Question No: 6 ( Marks: 1 ) - Please choose one***
*** *In which one of the following decision environments it is impossible to assess the likelihood of various future events?
► Risk
► Bounded rationality
► Certainty
* ► **Uncertainty***
**
*Question No: 7 ( Marks: 1 ) - Please choose one***
*** *Given the table:
* *
*Alternatives***
*Possible future demand***
*Low (Rs.)***
*High (Rs.)***
Small facility
10,000
8,000
Medium facility
12,000
20,000
Large facility
18,000
15,000
Which one of the following is the correct payoff under LAPLACE approach?
* *
* ► **Rs. 9,000***
► Rs. 16,000
► Rs. 33,000
► Rs. 16,500
**
*Question No: 8 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an index used to measure actual output relative to design capacity?
► Efficiency
*► **Effective capacity***
► Effectiveness
► Utilization
**
*Question No: 9 ( Marks: 1 ) - Please choose one***
*** * Effective capacity is influenced by all of the following factors * EXCEPT*:
► Facilities
*► **Product mix***
► Processes
► Operations
**
*Question No: 10 ( Marks: 1 ) - Please choose one***
*** *ABC Corporation has planned to purchase a new machine. Total annual fixed cost is Rs. 10,000, variable cost is Rs. 5 per unit and revenue is Rs. 7 per unit. What would be the break even point?
► 833 units
► 2000 units
► 5000 units
*► **1012 units***
**
*Question No: 11 ( Marks: 1 ) - Please choose one***
*** *Which of the following terms of financial analysis are important for the organization to proceed with a capacity alternative decision?
► Cash flow and fixed cost
► Present value and fixed cost
*► **Cash flow and present value***
► Cash flow and profit
**
*Question No: 12 ( Marks: 1 ) - Please choose one***
*** *The process selection should take into account all of the following EXCEPT*:*
► Capacity planning
► Design of work systems
*► **Production forecasts***
► Selection of technology
**
*Question No: 13 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an example of business that uses job shop process structure?
*► **French restaurants***
► Heavy equipment
► Sugar refinery
► Automobile assembly
**
*Question No: 14 ( Marks: 1 ) - Please choose one***
*** *Assembly lines relate most closely to a:
► Functional layout
*► **Product layout***
► Process layout
► Departmental layout
**
*Question No: 15 ( Marks: 1 ) - Please choose one***
*** *Which one of the following mathematical expressions can be used to compute output capacity?
*► **OT/CT***
► CT/OT
► CT+OT
► CT-OT
**
*Question No: 16 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an application of simple exponential smoothing?
► Establishing durability
► Finding reliability
* ► **Scheduling services***
► Quality improvement
**
*Question No: 17 ( Marks: 1 ) - Please choose one***
*** *Which of the following forecasting technique is based on the assumption that past data is more indicative of the future than the most recent occurrences?
► Naive forecast
► Exponential smoothing
► Linear regression
*► **Judgmental forecast***
**
*Question No: 18 ( Marks: 1 ) - Please choose one***
*** *Which of the following factors are considered in product and service design?
► Customer satisfaction, quality, and improvement costs
► Employee motivation, quality, and production costs
► Customer satisfaction, flexibility, and production costs
*► **Customer satisfaction, quality, and production costs***
**
*Question No: 19 ( Marks: 1 ) - Please choose one***
*** *Which one of the following refers to using some of the components of old products in the manufacturing of new products?
► Manufacturability
*► **Remanufacturing***
► Robust design
► Automation
**
*Question No: 20 ( Marks: 1 ) - Please choose one***
*** *Which one of the following mathematical expressions can be used to compute availability?
*► **(MTBF)/ (MTBF+MTR)***
► (MTBF)/ (MTBF-MTR)
► (MTR)/ (MTBF+MTR)
► (MTR)/ (MTBF-MTR)
**
*Question No: 21 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a curve showing failure rate over time?
* *
► Cost curve
*► **Bath tub curve***
► Fish bone diagram
► Reliability curve
**
*Question No: 22 ( Marks: 1 ) - Please choose one***
*** *What would be the availability if a carpenter is expected to be able to operate for 350 hours between repairs, and the mean repair time is expected to be 3 hours?
► 0.99
* ► **1.0***
► 3.0
► 7.03
**
*Question No: 23 ( Marks: 1 ) - Please choose one***
*** *What would be the availability if a carpenter is expected to be able to operate for 300 hours between repairs, and the mean repair time is expected to be 2 hours?* ** *
► 6.02
*► **2.0***
► 0.99
► 0.006
**
*Question No: 24 ( Marks: 1 ) - Please choose one***
*** *Which of the following is NOT an emerging trend in the workplace?
► Increasing workplace diversity
► Decreasing work schedule flexibility
► Increasing number of part time jobs
*► **Increasing use of temporary labor***
**
*Question No: 25 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is NOT a business application of forecasting?
► Budgeting
► Capacity planning
► Inventory management
*► **Quality control***
**
*Question No: 26 (
*Question No: 26 ( Marks: 1 ) - Please choose one***
*** *Which one of the following factors makes a forecast LESS perfect?
*► **Randomness***
► Non serious attitude
► Non availability of data
► Un qualified personnel
**
*Question No: 27 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an example of regional factors that affect location decisions?
► Transportation
► Quality of life
► Development support
*► **Location of new markets***
**
*Question No: 28 ( Marks: 1 ) - Please choose one***
*** *Which one of the following location strategies is favored by automobile manufacturers?
► Product plant strategy
► Process plant strategy
*► **Market area plant strategy***
► Cost conservation strategy
**
*Question No: 29 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a key benefit of process plant strategy?
► *Economies of scale*
► Diseconomies of scale
► Product variety
► Task specialization
**
*Question No: 30 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements is *true *about Occupational Safety Hygiene Administration (OSHA)?
► To safeguard against potential hazards
► To develop cost effective processes
*► **To implement legal standards***
► To carry out implication of manufacturability and fitness
**
*Question No: 31 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is NOT an input in the transformation process?
► Informations
* ► **Services***
► Facilities
► Materials
**
*Question No: 32 ( Marks: 1 ) - Please choose one***
*** *Forecasting for groups tend to be more accurate than forecasting for individual items because:
*► **A group is composed of a number of items***
► A group exhibits a uniform behavior
► A group cancels the forecasting errors among items
► A group behavior is relatively less uncertain
**
*Question No: 33 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a possible disadvantage of a moving average forecast?
► The method is unable to forecast the demand accurately
► The method is easy to compute and easy to understand
► All the values in the average are weighted equally
*► **The most recent values are given the more weightage***
**
*Question No: 34 ( Marks: 1 ) - Please choose one***
*** *The purpose of ___________ is to coordinate and control all the required sources so that productive system can be used efficiently and to ensure the delivery of product in time.
► Total quality control
*► **Demand management***
► Forecasting
► Operations management
**
*Question No: 35 ( Marks: 1 ) - Please choose one***
*** *Which one of the following forecasting methods uses subjective inputs such as opinions from consumer surveys, sales staff, managers and experts?
► Time series model
► Least Square method
*► **Judgmental forecasting model***
► Associative forecasting model
**
*Question No: 36 ( Marks: 1 ) - Please choose one***
*** *Which of the following is a technique that averages a number of recent actual values that are updated as new values become available?
*► **Simple moving average***
► Weighted moving average
► Linear trend equation
► Exponential smoothing
**
*Question No: 37 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements is TRUE about cost-volume relationship?
*► **It represents the relationship between cost, revenue and volume of output.***
► It represents the relationship between cost and volume of output.
► It represents the relationship between cost and revenue.
► It represents the relationship between inputs, cost and volume of output.
**
*Question No: 38 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements represents use of cost-volume analysis?
*► **It is a tool for reliability measurement***
► It provides a base for marketing research
► It helps in comparing capacity alternatives
► It is important in product design
**
*Question No: 39 ( Marks: 1 ) - Please choose one***
*** ***
Which one of the following best describes the cellular layout?
► It groups machines into departments to process items having similar processing requirements.
*► **It groups machines into small assembly lines that produce families of parts.***
► It allows production of larger lots by reducing set-up time.
► It encourages the use of large, efficient machinery.
**
*Question No: 40 ( Marks: 1 ) - Please choose one***
*** *Transportation method helps in solving which of the following problems?
*► **Facility location problems***
► Allocation of cost problems
► Workforce management problems
► Unfamiliar laws and regulaitons problems
**
*Question No: 41 ( Marks: 5 ) ***
*** **ABC Corporation has planned to purchase a new machine. Total annual fixed cost is Rs. 15,000: variable cost is Rs. 5 per unit and revenue is Rs. 7 per unit. ***
· What would be the break even point?
· What would be the breakeven point if variable cost gets increased by 10%, revenue decreased by 10% and fixed remains same?
*Solution***
Q=fc/r-vc
=15000/7.5
=7500 units
b)
fc/r-vc
=15000/7-0.7-(5+0.5)
=15000/6.3-5.5
=15000/0.8
=18750 units
**
*Question No: 42 ( Marks: 5 ) ***
*** **What is demand management. Explain its various factors?***
Demand management is a process by which we can find how much demand is required in future. By this we can forecast demand for the specific time.
There are the following components of Demand.
1 Average demand for a period of time
2 Trends
3 Seasonal elements
4 Cyclical elements
5 Random variations
6 Autocorrelation
*Question No: 1 ( Marks: 1 ) - Please choose one***
*** *Who developed the use of standardization in large-scale mass production using a moving assembly line?
► Frederick Winslow Taylor
*► **Frank Gilbreth***
► Adam Smith
► Henry Ford
**
*Question No: 2 ( Marks: 1 ) - Please choose one***
*** *The management of systems or processes that creates goods and provides services is known as*:***
* ► **Operation Management***
► Operation/production Management
► Operation/Research Management
► Production/Research Management
**
*Question No: 3 ( Marks: 1 ) - Please choose one***
*** *Which of the following statements corresponds to an order-winning characteristic?
► A factor which may be significant in other parts of the organization
*► **A factor which gives an organization a competitive edge***
► A factor which serves as a minimum standard for purchase
► A factor which increases the profitability of the organization
**
*Question No: 4 ( Marks: 1 ) - Please choose one***
*** *Which one of the following correctly explains the quantitative forecasting technique?
► It consists mainly of numerical descriptions and resist subjective inputs of managers.
► It consists mainly of subjective inputs and resist particular numerical descriptions.
► It consists mainly of subjective inputs and resisit human factor, personal opinions.
*► **It consists mainly of analyzing objective and hard data and resist human factor, opinion.***
**
*Question No: 5 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a pessimistic approach in decision making theory?
* ► **Maximin***
► Maximax
► Minimax regret
► Laplace
**
*Question No: 6 ( Marks: 1 ) - Please choose one***
*** *In which one of the following decision environments it is impossible to assess the likelihood of various future events?
► Risk
► Bounded rationality
► Certainty
* ► **Uncertainty***
**
*Question No: 7 ( Marks: 1 ) - Please choose one***
*** *Given the table:
* *
*Alternatives***
*Possible future demand***
*Low (Rs.)***
*High (Rs.)***
Small facility
10,000
8,000
Medium facility
12,000
20,000
Large facility
18,000
15,000
Which one of the following is the correct payoff under LAPLACE approach?
* *
* ► **Rs. 9,000***
► Rs. 16,000
► Rs. 33,000
► Rs. 16,500
**
*Question No: 8 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an index used to measure actual output relative to design capacity?
► Efficiency
*► **Effective capacity***
► Effectiveness
► Utilization
**
*Question No: 9 ( Marks: 1 ) - Please choose one***
*** * Effective capacity is influenced by all of the following factors * EXCEPT*:
► Facilities
*► **Product mix***
► Processes
► Operations
**
*Question No: 10 ( Marks: 1 ) - Please choose one***
*** *ABC Corporation has planned to purchase a new machine. Total annual fixed cost is Rs. 10,000, variable cost is Rs. 5 per unit and revenue is Rs. 7 per unit. What would be the break even point?
► 833 units
► 2000 units
► 5000 units
*► **1012 units***
**
*Question No: 11 ( Marks: 1 ) - Please choose one***
*** *Which of the following terms of financial analysis are important for the organization to proceed with a capacity alternative decision?
► Cash flow and fixed cost
► Present value and fixed cost
*► **Cash flow and present value***
► Cash flow and profit
**
*Question No: 12 ( Marks: 1 ) - Please choose one***
*** *The process selection should take into account all of the following EXCEPT*:*
► Capacity planning
► Design of work systems
*► **Production forecasts***
► Selection of technology
**
*Question No: 13 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an example of business that uses job shop process structure?
*► **French restaurants***
► Heavy equipment
► Sugar refinery
► Automobile assembly
**
*Question No: 14 ( Marks: 1 ) - Please choose one***
*** *Assembly lines relate most closely to a:
► Functional layout
*► **Product layout***
► Process layout
► Departmental layout
**
*Question No: 15 ( Marks: 1 ) - Please choose one***
*** *Which one of the following mathematical expressions can be used to compute output capacity?
*► **OT/CT***
► CT/OT
► CT+OT
► CT-OT
**
*Question No: 16 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an application of simple exponential smoothing?
► Establishing durability
► Finding reliability
* ► **Scheduling services***
► Quality improvement
**
*Question No: 17 ( Marks: 1 ) - Please choose one***
*** *Which of the following forecasting technique is based on the assumption that past data is more indicative of the future than the most recent occurrences?
► Naive forecast
► Exponential smoothing
► Linear regression
*► **Judgmental forecast***
**
*Question No: 18 ( Marks: 1 ) - Please choose one***
*** *Which of the following factors are considered in product and service design?
► Customer satisfaction, quality, and improvement costs
► Employee motivation, quality, and production costs
► Customer satisfaction, flexibility, and production costs
*► **Customer satisfaction, quality, and production costs***
**
*Question No: 19 ( Marks: 1 ) - Please choose one***
*** *Which one of the following refers to using some of the components of old products in the manufacturing of new products?
► Manufacturability
*► **Remanufacturing***
► Robust design
► Automation
**
*Question No: 20 ( Marks: 1 ) - Please choose one***
*** *Which one of the following mathematical expressions can be used to compute availability?
*► **(MTBF)/ (MTBF+MTR)***
► (MTBF)/ (MTBF-MTR)
► (MTR)/ (MTBF+MTR)
► (MTR)/ (MTBF-MTR)
**
*Question No: 21 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a curve showing failure rate over time?
* *
► Cost curve
*► **Bath tub curve***
► Fish bone diagram
► Reliability curve
**
*Question No: 22 ( Marks: 1 ) - Please choose one***
*** *What would be the availability if a carpenter is expected to be able to operate for 350 hours between repairs, and the mean repair time is expected to be 3 hours?
► 0.99
* ► **1.0***
► 3.0
► 7.03
**
*Question No: 23 ( Marks: 1 ) - Please choose one***
*** *What would be the availability if a carpenter is expected to be able to operate for 300 hours between repairs, and the mean repair time is expected to be 2 hours?* ** *
► 6.02
*► **2.0***
► 0.99
► 0.006
**
*Question No: 24 ( Marks: 1 ) - Please choose one***
*** *Which of the following is NOT an emerging trend in the workplace?
► Increasing workplace diversity
► Decreasing work schedule flexibility
► Increasing number of part time jobs
*► **Increasing use of temporary labor***
**
*Question No: 25 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is NOT a business application of forecasting?
► Budgeting
► Capacity planning
► Inventory management
*► **Quality control***
**
*Question No: 26 (
*Question No: 26 ( Marks: 1 ) - Please choose one***
*** *Which one of the following factors makes a forecast LESS perfect?
*► **Randomness***
► Non serious attitude
► Non availability of data
► Un qualified personnel
**
*Question No: 27 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is an example of regional factors that affect location decisions?
► Transportation
► Quality of life
► Development support
*► **Location of new markets***
**
*Question No: 28 ( Marks: 1 ) - Please choose one***
*** *Which one of the following location strategies is favored by automobile manufacturers?
► Product plant strategy
► Process plant strategy
*► **Market area plant strategy***
► Cost conservation strategy
**
*Question No: 29 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a key benefit of process plant strategy?
► *Economies of scale*
► Diseconomies of scale
► Product variety
► Task specialization
**
*Question No: 30 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements is *true *about Occupational Safety Hygiene Administration (OSHA)?
► To safeguard against potential hazards
► To develop cost effective processes
*► **To implement legal standards***
► To carry out implication of manufacturability and fitness
**
*Question No: 31 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is NOT an input in the transformation process?
► Informations
* ► **Services***
► Facilities
► Materials
**
*Question No: 32 ( Marks: 1 ) - Please choose one***
*** *Forecasting for groups tend to be more accurate than forecasting for individual items because:
*► **A group is composed of a number of items***
► A group exhibits a uniform behavior
► A group cancels the forecasting errors among items
► A group behavior is relatively less uncertain
**
*Question No: 33 ( Marks: 1 ) - Please choose one***
*** *Which one of the following is a possible disadvantage of a moving average forecast?
► The method is unable to forecast the demand accurately
► The method is easy to compute and easy to understand
► All the values in the average are weighted equally
*► **The most recent values are given the more weightage***
**
*Question No: 34 ( Marks: 1 ) - Please choose one***
*** *The purpose of ___________ is to coordinate and control all the required sources so that productive system can be used efficiently and to ensure the delivery of product in time.
► Total quality control
*► **Demand management***
► Forecasting
► Operations management
**
*Question No: 35 ( Marks: 1 ) - Please choose one***
*** *Which one of the following forecasting methods uses subjective inputs such as opinions from consumer surveys, sales staff, managers and experts?
► Time series model
► Least Square method
*► **Judgmental forecasting model***
► Associative forecasting model
**
*Question No: 36 ( Marks: 1 ) - Please choose one***
*** *Which of the following is a technique that averages a number of recent actual values that are updated as new values become available?
*► **Simple moving average***
► Weighted moving average
► Linear trend equation
► Exponential smoothing
**
*Question No: 37 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements is TRUE about cost-volume relationship?
*► **It represents the relationship between cost, revenue and volume of output.***
► It represents the relationship between cost and volume of output.
► It represents the relationship between cost and revenue.
► It represents the relationship between inputs, cost and volume of output.
**
*Question No: 38 ( Marks: 1 ) - Please choose one***
*** *Which one of the following statements represents use of cost-volume analysis?
*► **It is a tool for reliability measurement***
► It provides a base for marketing research
► It helps in comparing capacity alternatives
► It is important in product design
**
*Question No: 39 ( Marks: 1 ) - Please choose one***
*** ***
Which one of the following best describes the cellular layout?
► It groups machines into departments to process items having similar processing requirements.
*► **It groups machines into small assembly lines that produce families of parts.***
► It allows production of larger lots by reducing set-up time.
► It encourages the use of large, efficient machinery.
**
*Question No: 40 ( Marks: 1 ) - Please choose one***
*** *Transportation method helps in solving which of the following problems?
*► **Facility location problems***
► Allocation of cost problems
► Workforce management problems
► Unfamiliar laws and regulaitons problems
**
*Question No: 41 ( Marks: 5 ) ***
*** **ABC Corporation has planned to purchase a new machine. Total annual fixed cost is Rs. 15,000: variable cost is Rs. 5 per unit and revenue is Rs. 7 per unit. ***
· What would be the break even point?
· What would be the breakeven point if variable cost gets increased by 10%, revenue decreased by 10% and fixed remains same?
*Solution***
Q=fc/r-vc
=15000/7.5
=7500 units
b)
fc/r-vc
=15000/7-0.7-(5+0.5)
=15000/6.3-5.5
=15000/0.8
=18750 units
**
*Question No: 42 ( Marks: 5 ) ***
*** **What is demand management. Explain its various factors?***
Demand management is a process by which we can find how much demand is required in future. By this we can forecast demand for the specific time.
There are the following components of Demand.
1 Average demand for a period of time
2 Trends
3 Seasonal elements
4 Cyclical elements
5 Random variations
6 Autocorrelation
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