Question 1

Richard is a data-driven manager, so he tells subordinates,

Accepted Answer

A)  "Don't politic, use data." 
B)  "Politic, don't use data." 
C)  "Pay for your own lunch while on a business trip." 
D)  "Donate 10 percent of your gross income to charity." 
A)  "Don't politic, use data." 
B)  "Politic, don't use data." 
C)  "Pay for your own lunch while on a business trip." 
D)  "Donate 10 percent of your gross income to charity."

Question 2

Sell the most recently received items first is called

Accepted Answer

A)  FIFO 
B)  JIT 
C)  LIFO 
D)  wholesaling 
A)  FIFO 
B)  JIT 
C)  LIFO 
D)  wholesaling

Question 3

Just-in-time inventorys often referred to

Accepted Answer

A)  supply-chain management 
B)  as lean manufacturing because waste of "fat" is minimized. 
C)  operations management. 
D)  as custom manufacturing. 
A)  supply-chain management 
B)  as lean manufacturing because waste of "fat" is minimized. 
C)  operations management. 
D)  as custom manufacturing.

Question 4

Just in time is applicable only to highly repetitive manufacturing operations such as car or residential furnace manufacturing.

Accepted Answer

A) True 
 B)False

Question 5

Fixed cost in break-even analysis refers to the cost that

Accepted Answer

A)  remains constant no matter how many units are produced. 
B)  covers the initial capital expenditures. 
C)  covers everything but employee compensation. 
D)  declines after the break-even point has been reached. 
A)  remains constant no matter how many units are produced. 
B)  covers the initial capital expenditures. 
C)  covers everything but employee compensation. 
D)  declines after the break-even point has been reached.

Question 6

A decision tree is a graphic illustration of the alternative solutions available to solve a problem.

Accepted Answer

A) True 
 B)False

Question 7

Break-even analysis assumes that unit costs vary in relation to sales volume.

Accepted Answer

A) True 
 B)False

Question 8

The Delphi Technique is a form of group decision making designed to provide group members with one another's ideas and feedback while avoiding some of the problems associated with interacting groups

Accepted Answer

A) True 
 B)False

Question 9

Describe scenario planning.

Accepted Answer

Scenario planning is the process of prep

Question 10

A judgmental forecast is

Accepted Answer

A)  based on a collection of subjective opinions.. 
B)  a qualitative forecasting method. 
C)  both a & b 
D)  a quantitative forecasting method. 
A)  based on a collection of subjective opinions.. 
B)  a qualitative forecasting method. 
C)  both a & b 
D)  a quantitative forecasting method.

Question 11

Suppose a small-business owner wants to repaint the walls inside the office. The office manager suggests buying a premium brand of paint because such paint stays fresher looking
longer and does not chip as readily. What would a data-driven manager say?

Accepted Answer

The data-driven manager would say, "Wher

Question 12

Forecasts that are updated regularly with fresh data are referred to as rolling forecasts.

Accepted Answer

A) True 
 B)False

Question 13

In an advanced application of PERT, expected times are based on frequency distributions of how long certain events took place in the past.

Accepted Answer

A) True 
 B)False

Question 14

The economic-order quantity (EOQ) is the inventory level that minimizes ordering and carrying costs.

Accepted Answer

A) True 
 B)False

Richard is a data-driven manager, so he tells subordinates,

Sell the most recently received items first is called

Just-in-time inventorys often referred to

Just in time is applicable only to highly repetitive manufacturing operations such as car or residential furnace manufacturing.

Fixed cost in break-even analysis refers to the cost that

A decision tree is a graphic illustration of the alternative solutions available to solve a problem.

Break-even analysis assumes that unit costs vary in relation to sales volume.

The Delphi Technique is a form of group decision making designed to provide group members with one another's ideas and feedback while avoiding some of the problems associated with interacting groups

Describe scenario planning.

A judgmental forecast is

Suppose a small-business owner wants to repaint the walls inside the office. The office manager suggests buying a premium brand of paint because such paint stays fresher looking longer and does not chip as readily. What would a data-driven manager say?

Forecasts that are updated regularly with fresh data are referred to as rolling forecasts.

In an advanced application of PERT, expected times are based on frequency distributions of how long certain events took place in the past.

The economic-order quantity (EOQ) is the inventory level that minimizes ordering and carrying costs.

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Essentials of Planning

Problem Solving and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Essentials of Control

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters

Exam 6: Quantitative Techniques for Planning and Decision Making

Richard is a data-driven manager, so he tells subordinates,

Sell the most recently received items first is called

Just-in-time inventorys often referred to

Just in time is applicable only to highly repetitive manufacturing operations such as car or residential furnace manufacturing.

Fixed cost in break-even analysis refers to the cost that

A decision tree is a graphic illustration of the alternative solutions available to solve a problem.

Break-even analysis assumes that unit costs vary in relation to sales volume.

The Delphi Technique is a form of group decision making designed to provide group members with one another's ideas and feedback while avoiding some of the problems associated with interacting groups

Describe scenario planning.

A judgmental forecast is

Suppose a small-business owner wants to repaint the walls inside the office. The office manager suggests buying a premium brand of paint because such paint stays fresher looking longer and does not chip as readily. What would a data-driven manager say?

Forecasts that are updated regularly with fresh data are referred to as rolling forecasts.

In an advanced application of PERT, expected times are based on frequency distributions of how long certain events took place in the past.

The economic-order quantity (EOQ) is the inventory level that minimizes ordering and carrying costs.

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Essentials of Planning

Problem Solving and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Essentials of Control

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters