Operations Management Exam Preparation Guide
Course Introduction
Operations Management explores the principles and techniques used to design, operate, and improve the processes that transform inputs into finished goods and services. The course covers key concepts such as process analysis, quality management, supply chain coordination, inventory control, capacity planning, and the integration of technology in operations. By studying both manufacturing and service systems, students will gain analytical skills to evaluate operational performance and implement strategies for efficiency, effectiveness, and sustainable competitive advantage within organizations.
Recommended Textbook Essentials of Statistics for Business and Economics 6th Edition by David R. Anderson
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13 Chapters
1749 Verified Questions
1749 Flashcards
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Chapter 1: Data and Statistics
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) A portion of the population selected to represent the population is called
A)statistical inference
B)descriptive statistics
C)a census
D)a sample
Answer: D
Q2) Which of the following variables use the ratio scale of measurement?
A)social security number
B)temperature
C)gender
D)income
Answer: D
Q3) The collection of all elements of interest in a particular study is
A)the population
B)the sampling
C)statistical inference
D)descriptive statistics
Answer: A
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Page 3
Chapter 2: Descriptive Statistics: Tabular and Graphical Presentations
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65 Flashcards
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Sample Questions
Q1) The relative frequency of a class is computed by
A)dividing the cumulative frequency of the class by n
B)dividing n by cumulative frequency of the class
C)dividing the frequency of the class by n
D)dividing the frequency of the class by the number of classes
Answer: C
Q2) Refer to Exhibit 2-2. What percentage of the students does not plan to go to graduate school?
A)280
B)520
C)65
D)32
Answer: C
Q3) Refer to Exhibit 2-1. The cumulative relative frequency for the class of 20 - 29
A)is 300
B)is 0.25
C)is 0.75
D)is 0.5
Answer: C
Page 4
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Chapter 3: Descriptive Statistics: Numerical Measures
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162 Flashcards
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Sample Questions
Q1) Refer to Exhibit 3-3. The standard deviation is
A)8.944
B)4.062
C)13.2
D)16.5
Answer: B
Q2) Which of the following is not a measure of dispersion?
A)mode
B)standard deviation
C)range
D)interquartile range
Answer: A
Q3) Which of the following symbols represents the size of the population?
A) \(\sigma\)<sup>2</sup>
B) \(\sigma\)
C)\(\mu\)
D)N
Answer: D
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5
Chapter 4: Introduction to Probability
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Sample Questions
Q1) Two events are mutually exclusive
A)if their intersection is 1
B)if they have no sample points in common
C)if their intersection is 0.5
D)None of these alternatives is correct.
Q2) From nine cards numbered 1 through 9, two cards are drawn. Consider the selection and classification of the cards as odd or even as an experiment. How many sample points are there for this experiment?
A)2
B)3
C)4
D)9
Q3) If a six sided die is tossed two times, the probability of obtaining two "4s" in a row is
A)1/6
B)1/36
C)1/96
D)1/216
Q4) From among 8 students how many committees consisting of 3 students can be selected?
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Chapter 5: Discrete Probability Distributions
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121 Flashcards
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Sample Questions
Q1) An experiment consists of making 80 telephone calls in order to sell a particular insurance policy. The random variable in this experiment is a
A)discrete random variable
B)continuous random variable
C)complex random variable
D)simplex random variable
Q2) Determine the probability of being dealt 4 kings in a 5-card poker hand.
Q3) Compute the hypergeometric probabilities for the following values of n and x.
Assume N = 8 and r = 5.
a.n = 5, x = 2
b.n = 6, x = 4
c.n = 3, x = 0
d.n = 3, x = 3
Q4) Thirty-two percent of the students in a management class are graduate students. A random sample of 5 students is selected. Using the binomial probability function, determine the probability that the sample contains exactly 2 graduate students?
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Chapter 6: Continuous Probability Distributions
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165 Flashcards
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Sample Questions
Q1) For the standard normal probability distribution, the area to the left of the mean is
A)-0.5
B)0.5
C)any value between 0 to 1
D)1
Q2) Refer to Exhibit 6-6. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $30,000?
A)0.4772
B)0.9772
C)0.0228
D)0.5000
Q3) The advertised weight on a can of soup is 10 ounces. The actual weight in the cans follows a uniform distribution and varies between 9.3 and 10.3 ounces.
a.Give the mathematical expression for the probability density function.
b.What is the probability that a can of soup will have between 9.4 and 10.3 ounces?
c.What is the mean weight of a can of soup?
d.What is the standard deviation of the weight?
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8
Chapter 7: Sampling and Sampling Distributions
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131 Flashcards
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Sample Questions
Q1) Stratified random sampling is a method of selecting a sample in which
A)the sample is first divided into strata, and then random samples are taken from each stratum
B)various strata are selected from the sample
C)the population is first divided into strata, and then random samples are drawn from each stratum
D)None of these alternatives is correct.
Q2) A bank has kept records of the checking balances of its customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48.
A random sample of 144 checking accounts is selected.
a.What is the probability that the sample mean will be more than $306.60?
b.What is the probability that the sample mean will be less than $308?
c.What is the probability that the sample mean will be between $302 and $308?
d.What is the probability that the sample mean will be at least $296?
Q3) Refer to Exhibit 7-2. The point estimate for the mean of the population is
A)750
B)100
C)85
D)75
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Chapter 8: Interval Estimation
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Sample Questions
Q1) Refer to Exhibit 8-2. The 96.6% confidence interval for \(\mu\) is
A)63.00 to 67.00
B)60.76 to 69.24
C)61.08 to 68.92
D)60.00 to 80.00
Q2) Choo Choo Paper Company produces papers of various thickness. A random sample of 256 cuts had a mean thickness of 30.3 mils with a standard deviation of 4 mils. Develop a 95% confidence interval for the mean thickness of the population.
Q3) We are interested in conducting a study in order to determine what percentage of voters of a state would vote for the incumbent governor. What is the minimum size sample needed to estimate the population proportion with a margin of error of 0.05 or less at 95% confidence?
A)200
B)100
C)58
D)385
Q4) If the standard deviation of the lifetime of a vacuum cleaner is estimated to be 300 hours, how large of a sample must be taken in order to be 97% confident that the margin of error will not exceed 40 hours?
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Chapter 9: Hypothesis Tests
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Sample Questions
Q1) A sample of 30 cookies is taken to test the claim that each cookie contains at least 9 chocolate chips. The average number of chocolate chips per cookie in the sample was 7.8 with a standard deviation of 3.
a.State the null and alternative hypotheses.
b.Using the critical value approach, test the hypotheses at the 5% level of significance.
c.Using the p-value approach, test the hypothesis at the 5% level of significance.
d.Compute the probability of a Type II error if the true number of chocolate chips per cookie is 8.
Q2) For a two-tailed test, a sample of 20 at 80% confidence, t =
A)1.328
B)2.539
C)1.325
D)2.528
Q3) Refer to Exhibit 9-8. The p-value for this problem is
A)0.4938
B)0.0062
C)0.0124
D)0.05
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11
Chapter 10: Comparisons Involving Means, Experimental
Design and Analysis of Variance
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208 Verified Questions
208 Flashcards
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Sample Questions
Q1) We are interested in testing the following hypotheses.
H<sub>0</sub>: \(\mu\)<sub>1</sub>- \(\mu\)<sub>2</sub> \(\ge\) 0
H<sub>a</sub>: \(\mu\)<sub>1</sub>- \(\mu\)<sub>2</sub> < 0
The test statistic Z is computed to be 2.83. The p-value for this test is
A)0.4977
B)0.0023
C)0.0046
D)0.9977
Q2) Refer to Exhibit 10-1. At 95% confidence, the margin of error is
A)1.96
B)1.645
C)3.920
D)2.000
Q3) Which of the following does not need to be known in order to compute the p-value?
A)knowledge of whether the test is one-tailed or two-tailed
B)the value of the test statistic
C)the level of significance
D)None of these alternatives is correct.
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Chapter 11: Comparisons Involving Proportions and a Test of Independence
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Sample Questions
Q1) Refer to Exhibit 11-4. The hypothesis is to be tested at the 5% level of significance. The critical value from the table equals
A)1.645
B)1.96
C)5.991
D)7.815
Q2) Of 150 Chattanooga residents surveyed, 60 indicated that they participated in a recycling program. In Knoxville, 120 residents were surveyed and 36 claimed to recycle. a.Determine a 95% confidence interval estimate for the difference between the proportion of residents recycling in the two cities.
b.From your answer in Part a, is there sufficient evidence to conclude that there is a significant difference in the proportion of residents participating in a recycling program?
Q3) The degrees of freedom for a contingency table with 6 rows and 3 columns is A)18 B)15 C)6 D)10
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Page 13
Chapter 12: Simple Linear Regression
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140 Flashcards
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Sample Questions
Q1) Refer to Exhibit 12-10. The Y intercept is A)-1
B)1.0
C)11
D)0.0
Q2) Refer to Exhibit 12-8. The sum of squares due to error (SSE) is A)-156
B)234
C)1870
D)1974
Q3) In a regression analysis, the variable that is being predicted A)must have the same units as the variable doing the predicting B)is the independent variable C)is the dependent variable D)usually is denoted by x
Q4) Refer to Exhibit 12-10. The coefficient of correlation is
A)0.1905
B)-0.1905
C)0.4364
D)-0.4364
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Chapter 13: Multiple Regression
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146 Flashcards
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Sample Questions
Q1) Refer to Exhibit 13-9. The coefficient of X<sub>3</sub>
A)is significant
B)is not significant C)can not be tested, because not enough information is provided D)None of these alternatives is correct.
Q2) In a multiple regression model, the values of the error term ,\(\varepsilon\), are assumed to be
A)zero B)dependent on each other C)independent of each other D)always negative
Q3) Refer to Exhibit 13-10. The coefficient of determination for this model is
A)0.6923
B)0.1494
C)0.1300
D)0.8700
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