Mgmt 6355 Final Questions

1638 WordsFeb 22, 20127 Pages
CHAPTER 13 1. | | | Imagine comparing a manufacturing operation using regular lot-sizing and the same operation with a Kanban/lean production approach. What would be your expectations of the difference between the total cost (i.e., inventory holding costs + setup/ordering costs) of each? | | | Student Response | Value | Correct Answer | A. | Inventory holding cost will increase non-linearly with inventory | | | B. | Total costs will be lower for the regular lot-size operation | | | C. | Total costs will be lower for the Kanban/lean production operation | 100% | | D. | The order quantity will be larger for the Kanban/lean production approach | | | E. | As long as the total quantity is…show more content…
| | | In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand? | | | Student Response | Value | Correct Answer | A. | Cyclical elements | 100% | | B. | Future demand | | | C. | Past demand | | | D. | Inconsistent demand | | | E. | Level demand | | | | Score: | 10/10 | | | 4. | | | "Dynamic models, usually computer-based, that allow the forecaster to make assumptions about the internal variables and external environment in the model" is a definition for which of the following forecasting methodologies? | | | Student Response | Value | Correct Answer | A. | Causal | | | B. | Simulation | 100% | | C. | Focus forecasting | | | D. | Shiskin Time series | | | E. | Market research | | | | Score: | 10/10 | | | 5. | | | Given a prior forecast demand value of 230, a related actual demand value of 250 and a smoothing constant alpha of 0.1, what is the exponential smoothing forecast value for the following period? | | | Student Response | Value | Correct Answer | A. | 230 | | | B. | 232 | 100% | | C. | 238 | | | D. | 248 | | | E. | 250 | | | | Score: | 10/10 | | | 6. | | | Which of the following is not one of the basic types of forecasting?

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