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LSU ISDS 3115: exam 1 Questions With Complete Solutions ______________ is used to rank a company's products to determine which products represent the best use of the firm's resources, or, perhaps, to determine which products are to be eliminated. a. Value analysis b. Value engineering c. Financial analysis d. Product-by-value analysis e. Product cost justification Correct Answers d. Product-by- value analysis A business's stakeholders, whose conflicting perspectives cause ethical and social dilemmas, include a. lenders b. suppliers c. owners d. employees e. all of the above Correct Answers e. all of the above A code of ethics especially for project managers a. has been established by the Project Management Institute b. has been formulated by the Federal government c. has been formulated by the World Trade Organization d. is inappropriate, since everyone should use the same guidance on ethical issues e. does not exist at this time Correct Answers a. has been established by the Project Management Institute
A contractor's project being analyzed by PERT has an estimated time for the critical path of 120 days. The sum of all activity variances is 81; the sum of variances along the critical path is
- The probability that the project will take 130 or more days to complete is a. 0. b. 0. c. 0. d. 0. e. 1.29 Correct Answers a. 0. A firm can effectively use its operations function to yield competitive advantage via all of the following except a. customization of the product b. setting equipment utilization goals below the industry average c. speed of delivery d. constant innovation of new products e. maintain a variety of product options Correct Answers b. setting equipment utilization goals below the industry average A forecast based on the previous forecast plus a percentage of the forecast error is a(n) a. qualitative forecast b. naive forecast c. moving average forecast d. weighted moving average forecast e. exponentially smoothed forecast Correct Answers e. exponentially smoothed forecast
c. in trend projection the independent variable is time; in linear regression the independent variable need not be time, but can be any variable with explanatory power d. linear regression tends to work better on data that lack trends e. trend projection uses two smoothing constants, not just one Correct Answers c. in trend projection the independent variable is time; in linear regression the independent variable need not be time, but can be any variable with explanatory power A graphic technique for defining the relationship between customer desires and product/service is a. Product Lifecycle Management b. the House of Quality c. the moment of truth d. the assembly drawing e. the product development team Correct Answers b. the House of Quality A local project being analyzed by PERT has 42 activities, 13 of which are on the critical path. If the estimated time along the critical path is 105 days with a project variance of 25, the probability that the project will be completed in 95 days or less is a. -0. b. 0. c. 0. d. 0. e. 4.2 Correct Answers b. 0. A network has been crashed to the point where all activities are critical. Additional crashing
a. is unnecessary b. is impossible c. is prohibitively expensive d. may require crashing multiple tasks simultaneously e. can be done, but all critical tasks must be reduced in duration Correct Answers d. may require crashing multiple tasks simultaneously A PERT project has 45 activities, 19 of which are on the critical path. The estimated time for the critical path is 120 days. The sum of all activity variances is 64, while the sum of variances along the critical path is 36. The probability that the project can be completed between days 108 and 120 is a. -2. b. 0. c. 0. d. 0. e. 0.9773 Correct Answers d. 0. A process sheet is a type of a. assembly drawing b. assembly chart c. route sheet d. work order e. bill of materials Correct Answers c. route sheet A product's life cycle is divided into four stages, which are a. introduction, growth, saturation, and maturity b. introduction, growth, stability, and decline c. introduction, maturity, saturation, and decline d. introduction, growth, maturity, and decline
A project whose critical path has an estimated time of 120 days with a variance of 100 has a 20% chance that the project will be completed before day ______ (rounded to nearest day). a. 98 b. 112 c. 120 d. 124 e. 220 Correct Answers b. 112 A project whose critical path has an estimated time of 820 days with a variance of 225 has a 20% chance that the project will be completed before day ______ (rounded to nearest day). a. 631 b. 689 c. 807 d. 833 e. 1009 Correct Answers c. 807 A restaurant kitchen contains a wall poster that shows, for each sandwich on the menu, a sketch of the ingredients and how they are arranged to make the sandwich. This is an example of a(n) a. assembly drawing b. route sheet c. bill of materials d. work order e. virtual technology Correct Answers a. assembly drawing A route sheet provides a(n) a. exploded view of the product b. instruction to make a given quantity of a particular item
c. schematic showing how the product is assembled d. sequence of operations necessary to produce the component e. set of detailed instructions about how to perform a task Correct Answers d. sequence of operations necessary to produce the component A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data. The three previous July values were 110, 150, and 130. The average over all months is 190. The approximate seasonal index for July is a. 0. b. 0. c. 1. d. 2. e. cannot be calculated with the information given Correct Answers b. 0. A simple CPM network has five activities, A, B, C, D, and E. A is an immediate predecessor of C and of D. B is also an immediate predecessor of C and of D. C and D are both immediate predecessors of E. a. There are two paths in this network. b. There are four paths in this network. c. There are five paths in this network. d. There are 25 paths through this network. e. None of these statements is true. Correct Answers b. There are four paths in this network. A simple CPM network has three activities, A, B, and C. A is an immediate predecessor of B and of C. B is an immediate predecessor of C. The activity durations are A=4, B=3, C=8.
e. action plan to achieve the mission Correct Answers e. action plan to achieve the mission A time series trend equation is 25.3 + 2.1 X. What is your forecast for period 7? a. 23. b. 25. c. 27. d. 40. e. cannot be determined Correct Answers d. 40. According to the authors, which of the following strategic concepts allow firms to achieve their missions? a. productivity, efficiency, and quality leadership b. differentiation, cost leadership, and quick response c. differentiation, quality leadership, and quick response d. distinctive competency, cost leadership, and experience e. differentiation, distinctive competency, quality leadership, and capacity Correct Answers b. differentiation, cost leadership, and quick response Activity D on a CPM network has predecessors B and C, and has successor F. D has duration 6. B's earliest finish is 18, while C's is 20. F's late start is 26. Which of the following is true? a. B is a critical activity. b. C is completed before B. c. D has no slack but is not critical. d. D is critical, and has zero slack. e. All of the above are true. Correct Answers d. D is critical, and has zero slack.
Activity M on a CPM network has predecessors N and R, and has successor S. M has duration 5. N's late finish is 18, while R's is 20. S's late start is 14. Which of the following is true? a. M is critical and has zero slack. b. M has no slack but is not critical. c. The last start time of S is impossible. d. N is a critical activity. e. S is a critical activity. Correct Answers c. The last start time of S is impossible. All of the following decisions fall within the scope of operations management except for a. financial analysis b. design of goods and processes c. location of facilities d. managing quality e. All of the above fall within the scope of operations management. Correct Answers a. financial analysis All of these preconditions affect an operations management strategy except a. external economic and technological conditions b. competitors' strengths and weaknesses c. maintenance policies d. knowledge of the company's strategy e. knowledge of each product's life cycle Correct Answers c. maintenance policies Among the ethical and social challenges facing operations managers are
e. none of these Correct Answers a. 3.67; 1 An activity on a PERT network has these time estimates: optimistic = 2, most likely = 5, and pessimistic = 10. Its expected time is a. 5 b. 5. c. 5. d. 17 e. none of these Correct Answers b. 5. An assembly chart a. shows graphically how the product is assembled b. shows an exploded view of the product c. lists the operations, including assembly and inspection, necessary to produce the component with the material specified in the bill of material d. provides detailed instructions on how to perform a given task e. describes the dimensions and finish of each component Correct Answers a. shows graphically how the product is assembled An assembly drawing a. shows, in schematic form, how the product is assembled b. shows an exploded view of the product c. lists the operations, including assembly and inspection, necessary to produce the component with the material specified in the bill of material d. provides detailed instructions on how to perform a given task e. describes the dimensions and finish of each component Correct Answers b. shows an exploded view of the product
An engineering drawing shows the a. dimensions, tolerances, materials, and finishes of a component b. dimensions, tolerances, cost, and sales or use volume of a component c. materials, finishes, machining operations, and dimensions of a component d. cost, materials, tolerances, and lead-time for a component e. cost, dimensions, and machining operations for a component Correct Answers a. dimensions, tolerances, materials, and finishes of a component An operations manager is not likely to be involved in a. the design of goods and services to satisfy customers' wants and needs b. the quality of goods and services to satisfy customers' wants and needs c. the identification of customers' wants and needs d. work scheduling to meet the due dates promised to customers e. maintenance schedules Correct Answers c. the identification of customers' wants and needs An operations manager's ethical responsibilities a. are limited to the production phase of product life cycle b. are limited to following published laws and regulations c. extend from design, to production, to final destruction/disposition of a product d. do not include being efficient with the firm's resources
At Hard Rock Café, tasks that reflect operations or operations management include a. designing meals b. testing meals (recipes) c. analyzing meals for the cost of ingredients d. preparing employee schedules e. all of the above Correct Answers e. all of the above Black & Decker's hand-powered tools and Hewlett-Packard's printer business are examples of using enhancements and migrations of existing products to build on a what? a. product template b. product pulpit c. product platform d. product dais e. product foundation Correct Answers c. product platform Boeing's new 787 Dreamliner a. is assembled in Washington, D.C. b. uses engines from Japan c. has its fuselage sections built in Australia d. has increased efficiency from new engine technology e. results from a partnership of about a dozen companies Correct Answers d. has increased efficiency from new engine technology Budgeting, paying the bills, and collection of funds are activities associated with the a. management function b. control function
c. finance/accounting function d. production/operations function e. staffing function Correct Answers c. finance/accounting function Caterpillar and Texas Instruments are two firms that have benefited from the use of a. the multidomestic strategy option. b. the multinational corporation strategy. c. the transnational strategy option. d. the maquiladora system in Europe. e. the global strategy option. Correct Answers e. the global strategy option. Computer monitoring of tracking signals and self-adjustment if a signal passes a preset limit is characteristic of a. exponential smoothing including trend b. adaptive smoothing c. trend projection d. focus forecasting e. multiple regression analysis Correct Answers b. adaptive smoothing Contract requirements state that a project must be completed within 180 working days, or it will incur penalties for late completion. Analysis of the activity network reveals an estimated project time of 145 working days with a project variance of 400. What is the probability that the project will be completed before the late-payment deadline? a. 0. b. 0.
a. just-in-time performance b. rapid product development c. mass customization d. empowered employees e. All of the above are current trends. Correct Answers e. All of the above are current trends. Demand for a certain product is forecast to be 800 units per month, averaged over all 12 months of the year. The product follows a seasonal pattern, for which the January monthly index is 1.25. What is the seasonally-adjusted sales forecast for January? a. 640 units b. 798.75 units c. 800 units d. 1000 units e. cannot be calculated with the information given Correct Answers a. 640 units Divulging information to some bidders on a project to give them an unfair advantage a. is the same thing as altering a status report b. is bribery c. is permitted by NAFTA d. is known as bid rigging e. is acceptable for private corporations but not for government agencies Correct Answers d. is known as bid rigging Eli Whitney, in the _____, provided the foundations for ______ in operations management. a. 1920s; statistical sampling
b. United Kingdom; mass production c. U.S. Army; logistics d. nineteenth century; interchangeable parts e. none of the above Correct Answers d. nineteenth century; interchangeable parts Ethical issues that may arise in projects large and small include a. bid rigging b. expense account padding c. compromised safety or health standards d. bribery e. All of the above are true. Correct Answers e. All of the above are true. Examples of response to the global environment include a. Boeing's worldwide sales and production b. Benneton's flexibility in design, production, and distribution c. A Chinese manufacturer, Haier, opening plants in the United States d. Ford's partnerships with Volvo and Mazda e. All of the above are examples. Correct Answers e. All of the above are examples. Experience Differentiation a. isolates the consumer from the delivery of a service b. is an extension of product differentiation in the service sector c. uses only the consumer's senses of vision and sound d. keeps consumers from becoming active participants in the service
