MGT 382 Week 2 Quiz

 MGT 382 Week 2 Quiz | Mercer University

Question 1

Forecasts are usually classified by time horizon into which three categories?  

·         short-range, medium-range, and long-range  

·         exponential smoothing, regression, and time series  

·         finance/accounting, marketing, and operations  

·         departmental, organizational, and industrial  

·         strategic, tactical, and operational

Question 2

Short-range forecasts tend to ________ longer-range forecasts.  

·         be more accurate than  

·         deal with more comprehensive issues than  

·         employ the same methodologies as  

·         have about the same level of accuracy as  

·         be less accurate than

Question 3

Forecasts of individual products tend to be less accurate than forecasts of product families.  

·         True  

·         False

Question 4

The two general approaches to forecasting are:  

·         mathematical and statistical.    

·         qualitative and quantitative.    

·         historical and associative.  

·         judgmental and associative.  

·         judgmental and qualitative.

Question 5

Gradual upward or downward movement of data over time is called:

·         a trend. 

·         exponential variation. 

·         a cycle. 

·         random variation.

·         seasonality.

Question 6

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 0.8. What is the seasonally-adjusted sales forecast for January?  

·         1000 units 

·         640 units 

·         801.25 units 

·         798.75 units 

·         83.33 units

Question 7

Product strategy may focus on developing a competitive advantage via either differentiation, low cost, or rapid response, but not a combination of these.  

·         True    

·         False

Question 8

In the maturity stage of the product life cycle, operations managers will be particularly concerned with adding capacity or enhancing existing capacity to accommodate the increase in product demand.  

·         True    

·         False

Question 9

A product's life cycle is divided into four stages, which are:  

·         introduction, growth, stability, and decline.  

·         introduction, growth, saturation, and maturity. 

·         introduction, maturity, saturation, and decline. 

·         incubation, growth, maturity, and decline.  

·         introduction, growth, maturity, and decline.

Question 10

Robust design ensures that small variations in production or assembly do not adversely affect the product.  

·         True  

·         False

Question 11

Which of the following is TRUE regarding computer-aided design?  

·         It is an obsolete technology.  

·         It results in longer development cycles for virtually all products.  

·         It is the use of computers to interactively design products and prepare engineering documentation. 

·         It is too expensive to use in most manufacturing and design settings. 

·         It is the use of information technology to control machinery.

Question 12

Which of the following product development strategies has the highest product development risk?  

·         purchasing technology  

·         new internally developed products 

·         joint ventures 

·         alliances  

·         acquiring the developer

Question 13

An engineering drawing shows the:  

·         dimensions, tolerances, materials, and finishes of a component. 

·         dimensions, tolerances, cost, and sales or use volume of a component.

·         materials, finishes, machining operations, and dimensions of a component. 

·         cost, materials, tolerances, and lead-time for a component. 

·         cost, dimensions, and machining operations for a component.

Question 14

The hierarchy of components, their description, and the quantity of each required to make one unit of a product are documented on:  

·         an engineering drawing.    

·         a bill of material.  

·         a group technology listing.  

·         a work order.  

·         a route sheet

Question 15

A successful quality strategy features which of the following elements?  

·         B) an understanding of the principles of quality 

·         E) A, B, and C  

·         an organizational culture that fosters quality 

·         D) A and C  

·         engaging employees in the necessary activities to implement quality

Question 16

Stakeholders who are affected by the production and marketing of poor quality products include:  

·         E) none of these.    

·         D) all of these  

·         stockholders and employees.  

·         customers and distributors.  

·         suppliers and creditors.

Question 17

What is a set of quality standards developed by the International Organization for Standardization?  

·         Six Sigma

·         Malcolm Baldrige National Quality Award 

·         Deming Prize

·         ISO 9000

·         IOS 2009

Question 18

Quality circles empower employees to improve productivity by finding solutions to work-related problems in their work area.  

·         True  

·         False

Question 19

PDCA is most often applied with regard to which aspect of TQM? 

·         continuous improvement 

·         JIT 

·         employee empowerment 

·         Six Sigma  

·         benchmarking

Question 20

The process of identifying other organizations that are best at some facet of your operations and then modeling your organization after them is known as: 

·         copycatting. 

·         continuous improvement. 

·         benchmarking. 

·         employee empowerment. 

·         patent infringement.