Angie Koslowski
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Angie Koslowski
Created by Angie Koslowski about 9 years ago
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Ch 5, 8, 12

Ch 5, 8, 12

Question 1 of 78

1

Which decision making application involves fixed and variable costs?

Select one of the following:

  • Factor Analysis

  • Break even analysis

  • NPV analysis

  • Regression analysis

Explanation

Question 2 of 78

1

How many decision alternatives are there in a standard decision table for a problem involving 3 states of nature and 15 payoffs?

Select one of the following:

  • 3

  • 5

  • 18

  • none of the others

Explanation

Question 3 of 78

1

what is the crash slope for a task with normal time of 10 days, a crash time of 5 days, a normal cost of $1000 and a crash cost of $2000?

Select one of the following:

  • 1000/day

  • 200/day

  • 400/day

  • 0/day

Explanation

Question 4 of 78

1

Which project management model is used for time reduction applications?

Select one of the following:

  • Crashing

  • Regression

  • Slack

  • PERT-Cost

Explanation

Question 5 of 78

1

Which one of the following multiple time distributions are skewed left?

Select one of the following:

  • 3, 4, 8

  • 2, 2, 2

  • 5, 8, 9

  • 4, 6, 8

Explanation

Question 6 of 78

1

The output distribution for a multiple time estimate project is assumed to be?

Select one of the following:

  • Beta

  • Normal

  • Constant

  • Uniform

Explanation

Question 7 of 78

1

In an AOA network the nodes represent?

Select one of the following:

  • Events

  • Activities

  • Down time

  • Slack

Explanation

Question 8 of 78

1

In a beta distribution the most likely time is?

Select one of the following:

  • Closer to the most pessimistic time

  • Closer to the most optimistic time

  • Equal to the expected time

  • None of the above

Explanation

Question 9 of 78

1

Which variance should be used with a project with multiple critical paths?

Select one of the following:

  • The smallest variance

  • The largest variance

  • The sum of all variances

  • The average variance

Explanation

Question 10 of 78

1

In crashing analysis the crashing cost function is assumed to be?

Select one of the following:

  • Non-linear

  • Uniform

  • Linear

  • Normal

Explanation

Question 11 of 78

1

Which one of the following multiple time estimates is normally distributed?

Select one of the following:

  • 1,5,9

  • 3,3,3

  • 2,3,11

  • None of the above

Explanation

Question 12 of 78

1

Slack is defined as?

Select one of the following:

  • LF – LS

  • Normal time – crash time

  • LS – ES

  • LS - EF

Explanation

Question 13 of 78

1

Crash time is defined as the?

Select one of the following:

  • Minimum time required for a task

  • Maximum time required for a task

  • Average slack time

  • Normal time – slack time

Explanation

Question 14 of 78

1

which project mgmt system was developed by dupont in 1957?

Select one of the following:

  • CPM

  • Gantt Chart

  • Decision Tree

  • PERT

Explanation

Question 15 of 78

1

generally slack mgmt involves the administration of?

Select one of the following:

  • Fundraising

  • non critical path activities

  • critical path activities

  • task definitions

Explanation

Question 16 of 78

1

in crashing, which activities are generally selected first?

Select one of the following:

  • average cost

  • highest cost

  • non critical

  • lowest cost

Explanation

Question 17 of 78

1

the distribution of a project task with the time estimate 7,11,19 is?

Select one of the following:

  • skewed left

  • normally distributed

  • uniformly distributed

  • skewed right

Explanation

Question 18 of 78

1

which DSS is used for determining the optimal minimum cost crashing schedule?

Select one of the following:

  • NPV

  • none of the others

  • decision trees

  • forecasting

Explanation

Question 19 of 78

1

which graph shows the sequencing of tasks over time?

Select one of the following:

  • flow chart

  • decision tree

  • histogram

  • gantt chart

Explanation

Question 20 of 78

1

an activity with a slack of zero is called a _______ activity

Select one of the following:

  • none of the others

  • critical

  • earliest start

  • completed

Explanation

Question 21 of 78

1

which one of the following multiple time estimates will have an expected time equal to the most likely time?

Select one of the following:

  • 7, 10, 12

  • 4, 6, 8

  • 3,4,8

  • 2,5,11

Explanation

Question 22 of 78

1

the output expected time distribution for a multiple time estimate project is assumed to be

Select one of the following:

  • beta

  • uniform

  • normal

  • constant

Explanation

Question 23 of 78

1

which analytical process is used to determine the optimal way to reduce overall project time?

Select one of the following:

  • PERT cost

  • crashing

  • slack management

  • PERT

Explanation

Question 24 of 78

1

which one of the following statements about gantt charts is true?

Select one of the following:

  • shows the scheduling of individual projects over time

  • evolved from the PERT chart

  • Developed during WW2

  • shows a plot of budget over time

Explanation

Question 25 of 78

1

Slack is equal to?

Select one of the following:

  • LST-LFT

  • EST-LST

  • LST-EST

  • EST+LST

Explanation

Question 26 of 78

1

which one of the following statements best describes the critical path?

Select one of the following:

  • the sequence of tasks that takes the shortest time to complete

  • the set of tasks that have more than one predecessor

  • the sequence of tasks that takes the longest time to complete

  • the set of tasks that has the lowest total costs

Explanation

Question 27 of 78

1

PERT and CRM analysis are used for assessing the?

Select one of the following:

  • critical project tasks

  • shortest time in which a project can be completed

  • all of the others

  • resources needed to complete a project

Explanation

Question 28 of 78

1

The primary purpose of supply chain management is to?

Select one of the following:

  • Link customers

  • Create exclusive suppliers

  • Reduce inventory

  • Synchronize supplier operations

Explanation

Question 29 of 78

1

Which one of the following is an input supplier selection using factor analysis?

Select one of the following:

  • Factor weights

  • Supplier characteristics

  • Suppliers

  • all others

Explanation

Question 30 of 78

1

Which one is not a supply chain operations to financial link?

Select one of the following:

  • Percentage defects – Liabilities

  • Inventory turns – Working capital

  • Product development time - Revenue

  • Inventory – Current assets

Explanation

Question 31 of 78

1

A responsive supply chain matches best with?

Select one of the following:

  • Predictable demand

  • High product variability

  • On time delivery

  • Low inventory levels

Explanation

Question 32 of 78

1

Which statement about purchasing role is best?

Select one of the following:

  • Focus on delivery dates

  • Satisfy long term supply needs

  • Concentrate on tracking orders

  • Focus on price negotiations

Explanation

Question 33 of 78

1

In improving supply chain effectiveness a firm should never?

Select one of the following:

  • Implement backward VI

  • Implement forward VI

  • Go beyond 1st tier suppliers

  • None of the above

Explanation

Question 34 of 78

1

Which one of the following DSSs is most likely used in supplier selection?

Select one of the following:

  • Net present value

  • Aggregate planning

  • Factor analysis

  • Decision trees

Explanation

Question 35 of 78

1

A key step in designing a supply chain consists of linking the internal chain to?

Select one of the following:

  • Suppliers and customers

  • Suppliers only

  • Customers only

  • Key suppliers and customers

Explanation

Question 36 of 78

1

The metric inventory turns is defined as?

Select one of the following:

  • Inventory value divided by annual sales

  • Inventory multiplied by sales

  • Annual sales divided by inventory value

  • Ending monthly inventory

Explanation

Question 37 of 78

1

In the Bullwhip phenomena variability ___________ as you move up the supply chain?

Select one of the following:

  • Increases

  • Decreases

  • Remains constant

  • none of the others

Explanation

Question 38 of 78

1

An efficient supply chain is best associated with?

Select one of the following:

  • High product/service costs

  • Stable products/services

  • High inventories

  • Frequent product/service design changes

Explanation

Question 39 of 78

1

Which one of the following is not a step in the acquisition process?

Select one of the following:

  • Forecast requirements

  • Select suppliers

  • Track orders

  • none of others

Explanation

Question 40 of 78

1

EDI stands for?

Select one of the following:

  • Educational decision institute

  • Electronic decision interchange

  • Electronic data interchange

  • Electronic data institute

Explanation

Question 41 of 78

1

Which one of the following is a supply chain performance metric?

Select one of the following:

  • Information flow lead-time

  • All of the others

  • Amount spent of premium freight

  • Unplanned changeovers

Explanation

Question 42 of 78

1

An efficient supply chain would be characterized by?

Select one of the following:

  • Product flow

  • Low capacity cushions

  • High inventory turns

  • All of the others

Explanation

Question 43 of 78

1

A firm with a responsive supply chain would best be characterized by?

Select one of the following:

  • Product focus

  • Low capacity cushions

  • Process focus

  • Long delivery times

Explanation

Question 44 of 78

1

Which one of the following is a supply chain performance metric?

Select one of the following:

  • Unplanned changeovers

  • All of the others

  • Information flow lead-time

  • Amount spent of premium freight

Explanation

Question 45 of 78

1

What is the value of inventory for a firm with an inventory turn of 10 and annual cost of sales of $500 million?

Select one of the following:

  • $10 million

  • None of the others

  • $50 million

  • $100 million

Explanation

Question 46 of 78

1

What are the number of weeks of supply associated with a firm with a cost of sales of $200 and an inventory value of $20 million assuming a 50 week year?

Select one of the following:

  • 5

  • 50

  • 20

  • 10

Explanation

Question 47 of 78

1

Which one of the following is not a major supply chain decision issue?

Select one of the following:

  • Product/service features

  • Distribution

  • Location

  • Inventory

Explanation

Question 48 of 78

1

Which DSS used in supplier selection involves performance characteristics and weights?

Select one of the following:

  • Factor analysis

  • Break-even analysis

  • NPV

  • Linear programming

Explanation

Question 49 of 78

1

An efficient supply chain is best associated with?

Select one of the following:

  • High product/service costs

  • Stable products/services

  • Frequent product/service design changes

  • High inventories

Explanation

Question 50 of 78

1

What is an organized approach for improving performance and reducing costs throughout the supply chain.

Select one of the following:

  • Vertical integration

  • Value analysis

  • NPV analysis

  • Break-even analysis

Explanation

Question 51 of 78

1

Which one of the following represents the most significant source of disruption in an external supply chain?

Select one of the following:

  • Forecasting errors

  • Large inventories

  • Engineering change orders

  • Late deliveries

Explanation

Question 52 of 78

1

Which one of the following is not a standard AP strategy?

Select one of the following:

  • Chasing

  • Combo

  • Level

  • none of the others

Explanation

Question 53 of 78

1

Which one of the following is a proactive AP strategy?

Select one of the following:

  • Work force changes

  • Creative pricing

  • Overtime

  • Anticipator inventory

Explanation

Question 54 of 78

1

Which AP strategy would be best given large hiring/layoff costs?

Select one of the following:

  • Chasing

  • Combo

  • Level

  • random

Explanation

Question 55 of 78

1

Typically, under-time is defined as?

Select one of the following:

  • Being layoff

  • Being paid but not working

  • Similar to overtime

  • Not being paid but working

Explanation

Question 56 of 78

1

Which one of the following AP costs is the most difficult to estimate?

Select one of the following:

  • Subcontracting

  • Inventory

  • Hiring

  • Backorder

Explanation

Question 57 of 78

1

Which one of the following is not a reactive aggregate planning option?

Select one of the following:

  • Creative pricing

  • Inventory

  • Work-force adjustments

  • Backorder

Explanation

Question 58 of 78

1

Which one of the following is not a typical AP objective?

Select one of the following:

  • Minimize inventory

  • Minimize costs

  • Minimize facility utilization

  • Maximize efficiency

Explanation

Question 59 of 78

1

Which one of the following functions provides inputs to the AP process?

Select one of the following:

  • Marketing

  • Finance

  • Human resources

  • All of the above

Explanation

Question 60 of 78

1

Which one of the following is an example of an AP physical constraint?

Select one of the following:

  • Production capacity

  • Backorder levels

  • Inventory policy

  • Overtime pay rate

Explanation

Question 61 of 78

1

Which one of the following applies best to a level AP strategy?

Select one of the following:

  • Change work force levels

  • Use Inventory

  • Decrease output to meet demand

  • ) Implement a promotional campaign

Explanation

Question 62 of 78

1

The graphical solution to the LP model is limited to?

Select one of the following:

  • Two constraints

  • No more than five constraints

  • Two variables

  • More than one variable

Explanation

Question 63 of 78

1

Which special LP condition involves no limits on one or more of the decision variables?

Select one of the following:

  • Integer solution

  • Multiple optimal solution

  • Unbounded solution

  • Inconsistent solution

Explanation

Question 64 of 78

1

Which one of the following is not a standard LP constraint type?

Select one of the following:

  • <>

  • =

  • =>

  • <=

Explanation

Question 65 of 78

1

Which one of the following sets of constraints are inconsistent?

Select one of the following:

  • X1 = 5, X1 >= 3

  • X1 <= 5, X1 <= 10

  • X1 >= 4, X2 <= 2

  • X1 <=5, X1 >= 10

Explanation

Question 66 of 78

1

Sensitivity analysis indicates the range of the OF coefficients over which the current solution is?

Select one of the following:

  • Infeasible

  • None of the others

  • Suboptimal

  • Optimal

Explanation

Question 67 of 78

1

Typically, which one of the following is the first step in developing a LP model?

Select one of the following:

  • Identify variables

  • Identify constraint types

  • Perform sensitivity analysis

  • Construct the objective function

Explanation

Question 68 of 78

1

Which one of the following is a special LP solution type?

Select one of the following:

  • Multiple optimal solutions

  • Unbounded

  • Infeasible

  • All of the others

Explanation

Question 69 of 78

1

The shadow price associated with constraint with resources remaining is?

Select one of the following:

  • None of the others

  • Equal to the market price

  • Equal to the value of the objective function

  • Zero

Explanation

Question 70 of 78

1

A maximization problem must contain at least one?

Select one of the following:

  • Greater-than-or-equal-to type constraint

  • Cost coefficient

  • Less-than-or-equal-to type constraint

  • Dummy variable

Explanation

Question 71 of 78

1

Which special LP condition involves inconsistent constraints?

Select one of the following:

  • Unbounded solution

  • Negative solution

  • Infeasible solution

  • Multiple optimal solution

Explanation

Question 72 of 78

1

Typically, which one of the following is the first step in developing a LP model?

Select one of the following:

  • Identify variables

  • Perform sensitivity analysis

  • Construct the objective function

  • Identify constraint types

Explanation

Question 73 of 78

1

The optimal values of the variables in a minimization problem with all of the constraints less-than-or-equal-to are?

Select one of the following:

  • Zero

  • Ten

  • Equal to the RHS

  • Can not be determined

Explanation

Question 74 of 78

1

Which one of the following is a typical LP objective?

Select one of the following:

  • Maximize manpower utilization

  • All of the others

  • Minimize costs

  • Maximize profits

Explanation

Question 75 of 78

1

Which one of the following type of constraints is associated with slack?

Select one of the following:

  • =

  • >=

  • <>

  • <=

Explanation

Question 76 of 78

1

The shadow price associated with constraint with resources remaining is?

Select one of the following:

  • Equal to the value of the objective function

  • Zero

  • None of the others

  • Equal to the market price

Explanation

Question 77 of 78

1

In an LP model the optimal solution lies?

Select one of the following:

  • Outside the boundary

  • Inside the boundary

  • Besides the boundary

  • On the boundary

Explanation

Question 78 of 78

1

Which one of the following is a basic linear programming assumption?

Select one of the following:

  • Non-integer solutions

  • Variable constants

  • Dependent variables

  • Non-linear relationships

Explanation

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