Devry GSC M520 Week 2 Quiz

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Question 1.1. (TCO 5) In most cases, demand for products or services can be broken down into several components. Which of the following is not considered a component of demand? (Points : 3)        Average demand for a period        A trend        Seasonal elements        Past data        Autocorrelation Question 2.2. (TCO 5) In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand? (Points : 3)        Forecast error        Autocorrelation        Previous demand        Consistent demand        Repeat demand Question 3.3. (TCO 5) Which of the following forecasting methodologies is considered a causal forecasting technique? (Points : 3)        Exponential smoothing        Weighted moving average        Linear regression        Historical analogy        Market research Question 4.4. (TCO 5) Which of the following forecasting methods uses executive judgment as its primary component for forecasting? (Points : 3)        Historical analogy        Time series analysis        Panel consensus        Market research        Linear regression Question 5.5. (TCO 5) In business forecasting, what is usually considered a long-term time period? (Points : 3)        Three months or longer        Six months or longer        One year or longer        Two years or longer        Ten years or longer Question 6.6. (TCO 5) In general, which forecasting time frame best identifies seasonal effects? (Points : 3)        Short-term forecasts        Quick-time forecasts        Long range forecasts        Medium term forecasts        Rapid change forecasts Question 7.7. (TCO 5) The ability to rapidly and inexpensively switch production from one product to another enables what are sometimes referred to as (Points : 3)        economies of scale.        economies of size.        economies of shape.        economies of scope.        economies of shipping. Question 8.8. (TCO 5) If the best operating level of a piece of equipment is at a rate of 400 units per hour and the actual output during an hour is 300 units, which of the following is the capacity utilization rate? (Points : 3)        0.75        1.00        1.33        2.33        300 Question 9.9. (TCO 5) The capacity focus concept can be put into practice through a mechanism called which of the following? (Points : 3)        Best operating level (BOL)        Plant within a plant (PWP)        Total quality management (TQM)        Capacity utilization rate (CUR)        Zero-changeover-time (ZXT) Question 10.10. (TCO 5) At a decision point in a decision tree, which machine would you select when trying to maximize payoff when the anticipated benefit of selecting machine A is $45,000 with a probability of 90%, the expected benefit of selecting machine B is $80,000 with a probability of 50%, and the expected benefit of selecting machine C is $60,000 with a probability of 75%? (Points : 3)        Machine A        Machine B        Machine C        You would be indifferent between machines A and C.        You would be indifferent between machines A and B.