GSCM 520 DeVry Week 2 Quiz

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GSCM 520 DeVry Week 2 Quiz

GSCM520

GSCM 520 DeVry Week 2 Quiz

 

GSCM 520 DeVry Week 2 Quiz

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
  • 2.33300

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 B
  • Machine C
  • You would be indifferent between machines A and C.
  • You would be indifferent between machines A and B