Devry GSCM 520 Week 2 Quiz Latest

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Devry GSCM 520 Week 2 Quiz Latest

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

 

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Devry GSCM 520 Week 2 Quiz Latest