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MGT-chapter 6

b
Juanita is a data-driven manager, so she
a. minimizes interaction with people when working.
b. bases her decisions on facts.
c. finely tunes her intuition.
d. emphasizes politics in her decision making.
a
Richard is a data-driven manager, so he tells subordinates,
a. “Don’t politic, use data.”
b. “Politic, don’t use data.”
c. “Pay for your own lunch while on a business trip.”
d. “Donate 10 percent of your gross income to charity.”
c
A judgmental forecast is
a. based on a collection of subjective opinions..
b. a qualitative forecasting method.
c. both a & b
d. a quantitative forecasting method.
d
A major reason that forecasting is so important in business is that
a. customers often demand forecasts before they purchase equipment.
b. forecasts accurately describe a company’s history.
c. forecasts are good for spotting errors in current operations.
d. spotting trends can give you an edge over the competition.
b
The results of a time-series analysis are best represented by a(n)
a. equation with two variables.
b. chart or graph showing past trends and predicted future trends.
c. verbal summary of expert opinions.
d. pie chart of the various components of the analysis.
b
CEO Maria is so convinced that company sales will triple, that she commits the company to lavish new expenses without making contingency plans if the sales growth does not take place. Maria might be falling into the
a. prudence trap.
b. overconfidence trap.
c. recallability trap.
d. subjective thinking trap.
a
The World Future Society predicts that 100 million people with telecommute by the year 2015, illustrating a(n) ____ forecast.
a. economic
b. sales
c. technological
d. doomsday
a
The two major variables considered by Gantt charts and milestone charts are
a. planned and actual work.
b. past and present.
c. time and motion.
d. price and cost.
c
The numbers in a PERT network refer to the
a. amount of time consumed by events.
b. completion date for projects.
c. time required to complete activities between events.
d. average of the optimistic and pessimistic times.
b
The critical path is the path through the PERT network with the
a. shortest completion time.
b. longest completion time.
c. most probable time.
d. pessimistic time.
d
With a more refined application of PERT, the optimistic, pessimistic, and most probable times should be based on
a. Bureau of Labor Statistics estimates.
b. the intuition of someone new to the task.
c. the intuition of a well-experienced worker.
d. a frequency distribution of estimates.
b
In addition to estimating the time required for activities, advanced applications of PERT estimate the
a. job satisfaction associated with the task.
b. amount of resources to needed to accomplish the job.
c. productivity bonuses paid to workers who finish on schedule.
d. starting day of the project.
d
The break-even point occurs when
a. fixed costs and fixed revenues are equal.
b. variable costs and variable revenues are equal.
c. the units produced equal the units sold.
d. total costs and total revenues are equal.
a
Break-even analysis indicates the ____ that will be necessary to justify a new expense.
a. increase in sales.
b. increase in costs.
c. amount of profit.
d. volume of activity.
a
Fixed cost in break-even analysis refers to the cost that
a. remains constant no matter how many units are produced.
b. covers the initial capital expenditures.
c. covers everything but employee compensation.
d. declines after the break-even point has been reached.
a
A decision tree graphically depicts
a. the alternative solutions available to solve a problem.
b. cause and effect relationships.
c. how much inventory to keep on hand.
d. the states of nature.
c
An expected value for a decision tree is the value you would expect if
a. you calculated how much revenue is needed to break even.
b. your business were sold within 30 days.
c. a particular decision is made a large number of times.
d. you took a poll of what people want.
b
A decision tree is considered particularly useful in
a. evaluating costs over the life of a project.
b. making a sequence of decisions.
c. estimating the length of time required to achieve given return on investment.
d. determining when to drop a product line.
d
The economic-order quantity (EOQ) suggests the
a. right size orders to take.
b. break-even point for storing inventory.
c. break-even point for sales orders.
d. right amount of inventory to store.
d
Under a just-in-time inventory system, inventory is moved into a plant as soon as
a. the supplier can deliver.
b. the manufacturer has shelf space.
c. it can be bought at the right price.
d. it is needed.
b
Just-in-time inventorys often referred to
a. supply-chain management
b. as lean manufacturing because waste of “fat” is minimized.
c. operations management.
d. as custom manufacturing.
c
The just in time system of inventory control relies on
a. cards, to communicate production requirements from the final point of assembly to the manufacturing operations that precede it.
b. kanbans
c. both a & b
d. shipping directly from suppliers.
d
Under the inventory system, FIFO, you sell
a. by shipping directly from one of your suppliers.
b. the first goods you obtained last
c. the last goods you obtained first.
d. the first goods you obtained first.
c
Sell the most recently received items first is called
a. FIFO
b. JIT
c. LIFO
d. Wholesaling
b
A Pareto diagram is
a. an inventory method
b. a bar graph that ranks types of output variations by frequency of occurrence.
c. a forecasting tool.
d. a scenario for the future

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