Operations Strategy
Midterm Exam
Course Introduction
Operations Strategy explores the principles and practices involved in designing, managing, and improving the operational capabilities that support an organizations long-term objectives. The course examines how operations decisions ranging from process design and capacity planning to supply chain management and quality control align with and drive competitive advantage. Through case studies, analytical tools, and frameworks, students learn to formulate operations strategies in response to market changes, technological advances, and global competitive pressures. Emphasis is placed on the integration of operations with other functional areas and on the strategic role operations play in achieving organizational excellence and sustainability.
Recommended Textbook
Operations Management Managing Global Supply Chains 1st Edition by Ray R. Venkataraman
Available Study Resources on Quizplus
29 Chapters
2890 Verified Questions
2890 Flashcards
Source URL: https://quizplus.com/study-set/2286 Page 2
Chapter 1: Introduction to Managing Global Operations and Supply Chains
Available Study Resources on Quizplus for this Chatper
97 Verified Questions
97 Flashcards
Source URL: https://quizplus.com/quiz/45397
Sample Questions
Q1) The fact that services cannot be stored for future use leads to services being described as ______.
A)time-perishable
B)readily depreciated
C)consumable
D)temporary
Answer: A
Q2) See the operations profile on Zara.The phrase fashion doesn't sleep refers to ______.
A)fashionable garments for daytime wear
B)the dynamic nature of the fashion industry
C)the fact that operations management in the fashion industry is a 24/7 undertaking D)Zara needs to design clothing that can be worn 24/7
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Operations and Supply Chain Strategies
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/45398
Sample Questions
Q1) For those companies that have a single business,______.
A)there is almost no distinction between a business and a divisional strategy
B)there is no need for a functional strategy
C)strategy and tactics are the same
D)there is no need for outsourcing
Answer: A
Q2) Supply chain management activities ______.
A)refer to the coordination of activities across multiple firms
B)refer to the application of government standards
C)refer to the application of industry standards
D)refer to the application of international standards
Answer: A
Q3) A company that creates economic value but exploits the environment and natural resources may ______.
A)run out of raw materials required for its operations
B)overprice its products
C)be forced to offer products of poor quality
D)have high production costs
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Project Management
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45399
Sample Questions
Q1) Which of the following is NOT one of the estimates used by PERT to estimate the duration of an activity?
A)optimistic time
B)most likely time
C)catastrophic time
D)pessimistic time
Answer: C
Q2) An activity network ______.
A)indicates the duration for each activity
B)indicates how activities are best sequenced
C)is part of the work breakdown structure
D)is developed by using CPM
Answer: B
Q3) The work breakdown structure (WBS)______.
A)is part of the conceptualization stage
B)breaks down a project's overall mission into step-by-step tasks
C)identifies the characteristics required in the project manager
D)specifies what is required to be compliant with ISO standards
Answer: B
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Supplement: Project Management
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45422
Sample Questions
Q1) In project management,PERT (program evaluation and review technique)______.
A)uses a weighted average of optimistic,pessimistic,and most likely estimates to calculate the expected duration for an activity
B)uses a deterministic approach to calculate the expected duration for an activity
C)use a simple average of optimistic,pessimistic,and most likely estimate to calculate the expected duration for an activity
D)uses a most likely estimate to calculate the expected duration for an activity
Q2) If the most optimistic time for completing an activity is 2,the most likely time is 5,and the most pessimistic time is 8,then the estimated time for the activity is ______.
A)5
B)9
C)11
D)4
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Product and Service Innovations
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45400
Sample Questions
Q1) Which of the following is LEAST likely to be a method by which customers and the service provider interact today?
A)face-to-face
B)via telephone
C)through websites and social media
D)by postal correspondence
Q2) Which of the following is NOT one of the four options a company can consider with regard to locating its inventories?
A)at the manufacturer's facility
B)in a warehousing facility
C)in a retail facility
D)offshoring inventory
Q3) Which of the following is NOT true with regard to the serial approach in a large-scale production project?
A)It is slow.
B)It is costly.
C)It is used to develop products effectively.
D)May require frequent engineering changes.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Supplement: Reliability
Available Study Resources on Quizplus for this Chatper
98 Verified Questions
98 Flashcards
Source URL: https://quizplus.com/quiz/45423
Sample Questions
Q1) A product consists of six parts.The reliability of these parts are 0.94,0.9,0.56,0.99,0.77,and 0.96.Calculate and indicate product reliability.
A)34.7%
B)23.2%
C)14.1%
D)90.3%
Q2) ______ can be defined as the probability that a component,product,or system can perform its intended function over a period of time under a given set of normal operating conditions of use.
A)Reliability
B)Maintainability
C)Availability
D)Redundancy
Q3) ______ is the percentage of times that a system or equipment is operating properly when it is needed for use.
A)Availability
B)Maintainability
C)Redundancy
D)Reliability
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Managing for Quality
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45401
Sample Questions
Q1) Which of the following is NOT one of the goals of the Baldrige Quality Award?
A)making quality a national priority
B)disseminating best practices across the United States
C)lowering production costs across the country
D)contributing to the economy as a whole
Q2) Which of the following is FALSE regarding the International Organization for Standardization?
A)It is represented by the letters ISO.
B)It was created in 1966.
C)It is based in Geneva,Switzerland.
D)It has representatives from various national standards organizations.
Q3) The Coca-Cola Company uses the same formula and basic bottle shape for Coke worldwide,but the labels on the bottles and their sizes vary depending upon the market.This illustrates ______.
A)thinking globally but acting locally
B)manufacturing locally but designing globally
C)thinking locally but acting globally
D)manufacturing globally but designing locally
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Quality Improvement and Control Tools
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45402
Sample Questions
Q1) To construct a mean chart when we do not know the mean of the population,we
A)can take the average of all sample mean
B)can make an educated guess
C)can take a larger sample
D)cannot construct the mean chart
Q2) Refer to Data .The mean of the ranges is ______.
A)1.00
B)0.7
C)1.7
D)0.27
Q3) A control chart shows ______.
A)the reason a process is out of control
B)the time period when the process became out of control
C)the costs that result when a process is out of control
D)the costs that result when a process does not meet customer specifications
To view all questions and flashcards with answers, click on the resource link above.
10
Chapter 9: Capacity Planning
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45403
Sample Questions
Q1) Organizations can make full use of their capacity to reduce their costs during ______.
A)the introduction stage of the product life cycle
B)the growth stage of the product life cycle
C)the maturity stage of the product life cycle
D)the decline stage of the product life cycle
Q2) Which of the following is NOT something that a global platform allows companies to share?
A)information
B)developments,products,and components
C)payment methods
D)production facilities
Q3) Long-term capacity planning decisions such as the purchase of a new machine or construction of a new facility typically ______.
A)require significant outlays of capital
B)require government approval
C)require short lead times
D)signal a shift in strategy
To view all questions and flashcards with answers, click on the resource link above.
11
Chapter 10: Supply Chain Design and Location Planning
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45404
Sample Questions
Q1) The center-of-gravity method assumes that distribution costs are a linear function of ______.
A)distance and quantity shipped
B)weight of a product and quantity shipped
C)distance and speed
D)quantity shipped and speed
Q2) The objective in the last phase of the supply chain design and facility location process is to ______.
A)consider the availability of the necessary infrastructure
B)determine the number of facilities needed for the supply chain
C)come up with a final supply chain design that will maximize the profits for the company
D)determine the role each facility would play in meeting the market requirements
Q3) Which of the following is NOT a factor that influences the choice of a global location?
A)host country market size
B)total cost
C)infrastructure
D)lead time
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Process Design and Layout Planning
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45405
Sample Questions
Q1) A layout ______.
A)is the physical arrangement of work and storage areas,departments,or equipment,within a facility
B)is the physical layout of the plant in relation to adjoining roads and zoning areas
C)is the physical layout of the markets in relation to the production plant
D)is the virtual layout of the technology services
Q2) Which of the following is NOT the term used to describe HYPERLINK
"E:\\DATA\\BookReview\\Package\\Venkataraman_Chapters_and_Supplements\\C
9 MCQ C9.xlsm" \l "RANGE!#REF!" the interface between push and pull systems?
A)the push-pull boundary
B)the point where customization occurs
C)HYPERLINK
"E:\\DATA\\BookReview\\Package\\Venkataraman_Chapters_and_Supplements\\C
9 MCQ C9.xlsm" \l "RANGE!#REF!" the decoupling point
D)the pull conflict
To view all questions and flashcards with answers, click on the resource link above.
13
Chapter 12: Supplement: Tools for Analyzing, Designing, and Selecting Processes and Layouts
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/45424
Sample Questions
Q1) Which of the following is an excellent communication tool that enables anyone to see when a work order was generated,who worked on it and where,the order's status,the customer's key requirements or concerns,and any past or future communication with the customer?
A)Assembly chart
B)Assembly drawing
C)Route sheet
D)Process chart
Q2) In line balancing,the number of workstations required (N)is given by ______.
A)cycle time / flow time
B)idle time / cycle time
C)sum of all task times / cycle time
D)sum of all task times / flow time
Q3) To calculate the theoretical minimum number of workstations (N)required,______.
A)we need to first calculate the cycle time
B)we need to first calculate the difference between task times
C)we need to first calculate the balance efficiency
D)we need to first calculate the flow time
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Supplier Management
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45406
Sample Questions
Q1) The services and information a company acquires from its vendors is ______.
A)tangible
B)intangible
C)finished goods
D)raw Materials
Q2) Which of the following is true about managing relationships with service providers?
A)The outsourcing of services performed in-house to third-party service providers does not require any changes in the organizational structure.
B)A company's IT infrastructure must be reconfigured to monitor and manage the network of third-party service providers.
C)The outsourcing of services does not require buying companies to develop multisourcing strategies.
D)Managing a service provider is fairly simple and straightforward.
Q3) COPQ is ______.
A)cost of proper quality
B)cost of poor quality
C)cost of process quality
D)cost of premium quality
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Logistics Management
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45407
Sample Questions
Q1) Which of the following is NOT one of the things consumers and public officials are demanding with regard to sustainability issues in logistics management?
A)more transparency
B)more accountability
C)logistics strategies to conserve resources
D)less emphasis on sustainability
Q2) Which of the following is NOT true of the NAFTA partners in 2014?
A)They had a combined trade of $1.2 trillion.
B)They represented a larger trading bloc than the 27-member European Union.
C)They decided to merge with the United Nations.
D)They decided to be governed by the ISO.
Q3) For medium distances,quicker delivery times are provided by ______.
A)air transport
B)sea transport
C)truck transport
D)pipeline
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Demand Management and Customer Service
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45408
Sample Questions
Q1) ______ is the process of gathering information from within and outside of the organization to forecast demand for a product.
A)Collaborative forecasting
B)Causal forecasting
C)Collaborative planning
D)Causal planning
Q2) Operational decisions,including inventory planning and control,and inbound/outbound transportation,are the focus of ______.
A)intermediate-term demand planning decisions
B)long-term demand planning decisions
C)short-term demand planning decisions
D)prolonged demand planning decisions
Q3) On-time deliveries and perfect/complete orders are measuring the ______ dimension of customer services.
A)time
B)reliability
C)convenience
D)communication
To view all questions and flashcards with answers, click on the resource link above.
17
Chapter 16: Demand Forecasting Methods
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45409
Sample Questions
Q1) When the smoothing constant ( )is set to 1,then exponential smoothing is equivalent to ______.
A)naïve approach
B)weighted moving average
C)moving average
D)factor rating method
Q2) The use of ______ involves establishing an upper and lower control limit to determine if the forecasting errors related to a method are within the limits.
A)tracking signals
B)control charts
C)monitoring signals
D)trend charts
Q3) The demand levels remain more or less constant over time.This is a characteristic of ______.
A)no trend (level demand)
B)linear trend
C)exponential growth
D)damped trend
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Lean Operations and Supply Chains
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/45410
Sample Questions
Q1) Features of lean relationships in supply chain management include ______.
A)fewer suppliers
B)increase in number of employees
C)reduced sustainability
D)increase in cash flows
Q2) In which step of 5S do we "organize and arrange items in the work area into a logical pattern of work operations or simplified set of motions for the worker"?
A)sort
B)straighten
C)sustain
D)standardize
Q3) The firm's best source for spotting problems and ensuring quality ______.
A)is its management
B)is the quality control inspector
C)line workers
D)third-party audits
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Inventory Management
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45411
Sample
Questions
Q1) An effective inventory management system ______.
A)will produce reliable demand forecasts and estimates of lead times and inventory costs
B)will attempt to reprice items such that inventory of finished products is minimized
C)will use the push system in some seasons and pull system in other seasons to balance demand and supply
D)will help identify the right markets for its products
Q2) The ABC classification method classifies inventory based on ______.
A)unit value
B)amount of safety stock needed
C)product quality
D)quantity demanded
Q3) Disintermediation ______.
A)is used to prevent information distortion in a supply chain
B)refers to a downstream supply chain member selling directly to an upstream supply chain member
C)is one method to avoid or reduce seasonality of demand
D)is when a supplier of raw materials sells products directly to the end consumer
To view all questions and flashcards with answers, click on the resource link above.
20
Chapter 19: Inventory Control Models
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45412
Sample Questions
Q1) Independent demand items are ______.
A)products in demand in countries that have declared their independence
B)products whose demand does not depend on demand for other finished products
C)products that are in demand irrespective of the price of the product
D)products that are in demand irrespective of the quality of the product
Q2) With regard to inventory management,EOQ stands for ______.
A)economic order quantity
B)easily ordered quantity
C)electronic ordering quantity
D)everlasting online quantity
Q3) The setup cost to make a carpet is $20 per setup.The holding cost is $2.00 per yard per year,and the annual demand is 12,000 yards.The manufacturing facility operates 300 days,and 120 yards of the carpet are produced per day.Given this information,what is total annual carrying cost?
A)$600
B)$500
C)$400
D)$300
To view all questions and flashcards with answers, click on the resource link above.
Chapter 20: Sales and Operations Planning
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/45413
Sample Questions
Q1) There are ______ stages in the process of developing a sales and operations planning (S&OP)plan.
A)four
B)five
C)six
D)seven
Q2) Which of the following is one of the broad categories of mixed strategies that can be used in sales and operations planning for services?
A)the use of options to influence demand to match available capacity
B)annualized hours strategy
C)maintaining a permanent regular time workforce but using overtime or hiring additional part-time workers for peak periods
D)using different fare classes to partition demand
Q3) Average inventory level at the end of each period is given by ______.
A)Average inventory = (Beginning inventory + Ending inventory)/ 2
B)Average inventory = (Beginning inventory + Ending inventory)* 2
C)Average inventory = (Beginning inventory - Ending inventory)/ 2
D)Average inventory = (Beginning inventory - Ending inventory)* 2
To view all questions and flashcards with answers, click on the resource link above.
Chapter 21: Master Scheduling and Material Requirements
Planning
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45414
Sample Questions
Q1) The focus of the master schedule in an MTO production environment is ______.
A)producing finished goods to meet inventory and customer service levels
B)ensuring that capacity is available to begin production upon receipt of order
C)ensuring that raw materials are readily available to begin production upon receipt of order
D)continuously producing finished goods irrespective of inventory level
Q2) To meet short-run demand and to facilitate production,aggregate units established by sales and operations planning are ______.
A)disaggregated
B)redesigned
C)retooled
D)discarded
Q3) The process of breaking down product family requirements into individual end items is called ______.
A)disaggregating
B)aggregating
C)netting
D)explosion of BOM
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Supplement: Capacity Requirements Planning,
MRP II, ERP, and DRP
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45425
Sample Questions
Q1) A system that provides a real-time integrated view of a company's core business processes through information sharing to tie together the critical components of an organization to achieve cross-functional collaboration is ______.
A)manufacturing resource planning (MRP)
B)manufacturing resource planning (MRP II)
C)enterprise resource planning (ERP)
D)distribution requirements planning (DRP)
Q2) The amount of planned work scheduled and actual work assigned to a production facility for a specific period of time is called a ______.
A)sublot
B)load
C)batch
D)lot
Q3) The goal of CRP is to regulate both the flow of work orders and work center capacities in order to ______.
A)minimize production costs
B)maximize production volumes
C)minimize inventory of finished products
D)minimize load back-up with steady workflow
Page 24
To view all questions and flashcards with answers, click on the resource link above.
Chapter 23: Detailed Scheduling
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45415
Sample Questions
Q1) The ______ rule can be applied for scheduling in make-to-stock and make-to-order production systems.
A)shortest processing time
B)earliest due date
C)longest processing time
D)critical ratio (CR)
Q2) Schedules may have to be revised frequently due to factors such as machine breakdowns,processing delays at work centers,and the like.This is the drawback of ______.
A)fixed loading
B)iterative loading
C)finite loading
D)infinite loading
Q3) Jobs are ranked according to their processing times,and the job with the longest processing time will be processed first and completed in the ______.
A)shortest processing time
B)earliest due date
C)longest processing time
D)critical ratio (CR)
To view all questions and flashcards with answers, click on the resource link above.
Page 25
Chapter 24: Linear Programming
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45416
Sample
Questions
Q1) ABC,Inc.,is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours.The production manager can schedule up to 240 hours of sewing machine time and up to 150 hour cutting machine time.Production of one shirt requires 3 hours of sewing time and 1 hour of cutting time.Each pair of pants requires 2 hours of sewing time and 1.5 hours of cutting time.Each shirt yields a profit of $5,and each pair of pants generates a $6 profit.The objective is to maximize profits.Determine sewing time constraint for the LP formulation.Let X = Number of shirts to be produced,X = Number of pairs of pants to be produced.
A)3X + 2X 240
B)X + 1.5X 150
C)3X + 2X 150
D)X + 1.5X 240
Q2) The price associated with a resource that indicates how much more profit would be earned by increasing the amount of the resource by one unit is called ______.
A)final cost
B)reduced cost
C)shadow price
D)single price
To view all questions and flashcards with answers, click on the resource link above.
Page 26
Chapter 25: The Transportation Models
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45421
Sample Questions
Q1) To solve a transportation model,we should first set up the problem as a ______.
A)transportation objective
B)transportation matrix
C)transportation product mix
D)northwest corner rule
Q2) Which of the following methods involves first allocating shipping units to the northwest (top left-hand)corner of the transportation matrix and then proceeding systematically by making allocations of shipping units to cells along either a row or column until the bottom right-hand corner of the matrix is reached?
A)matrix least cost method
B)matrix maximum profit method
C)northwest corner rule
D)stepping stone method
Q3) ______ refers to a fictitious demand destination created to arrive at a balanced transportation problem (i.e.,total demand = total supply).
A)Balanced transportation problem
B)Degeneracy
C)Dummy demand destinations
D)Dummy supply sources
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Waiting Line Models
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45417
Sample Questions
Q1) The total cost throughout any service or manufacturing facility consists of ______ components.
A)two
B)three
C)four
D)five
Q2) In queuing theory,a queue represents ______.
A)a certain number of customers waiting for service at a facility
B)the number of people waiting to attend on customers
C)the infrastructure to serve customers
D)the service level
Q3) An airport check-in and security-service system is an example of ______ structure.
A)single channel,single-phase
B)single channel,multiphase
C)multichannel,multiphase
D)multichannel,single-phase
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: Simulation
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45418
Sample Questions
Q1) Consider the Demand for Microwave Ovens dataset.What is the total demand corresponding to random numbers 90,51,32,45,93,and 70?
A)17
B)18
C)19
D)20
Q2) Consider the data on Inventory of Widgets Over a 10-Day Period.Any time that ending inventory falls to 15 or below,an order is placed for 20 units of the product.The lead time for delivery varies and is shown in the column under Lead Time.If the backorder costs are $10 per widget that is on backorder,what are the total backorder costs during the 10-day period?
A)$18
B)$0
C)$7
D)$22
To view all questions and flashcards with answers, click on the resource link above.
29
Chapter 28: Learning Curves
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/45419
Sample Questions
Q1) Weston,Inc.,produces widgets.To manufacture a new type of widget,it took 21 iterations before the process reached a steady state of 39 hours.If Weston has an 87% learning rate,use the logarithmic approach to calculate the time it took to manufacture the first widget.
A)71.90 hours
B)73.10 hours
C)71.75 hours
D)71.84 hours
Q2) A construction firm wants to estimate the direct labor of a worker who will perform multiple iterations of tasks.The worker must do a total of 20 of these activities to reach steady state.The time estimated to perform the 20th iteration is 2 hours,and the learning rate for this repetitive activity is 70%.The cost of labor is $40/hr.Estimate the time necessary to complete the first activity.
A)9.34 hours
B)8.43 hours
C)5.34 hours
D)10.31 hours
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Decision-Making Tools
Available Study Resources on Quizplus for this Chatper
100 Verified Questions
100 Flashcards
Source URL: https://quizplus.com/quiz/45420
Sample Questions
Q1) In a decision tree,branches from a circle node represent ______.
A)decision alternatives
B)uncertain event
C)state of nature
D)consequences
Q2) A decision tree is drawn from ______.
A)top to bottom
B)right to left
C)left to right
D)bottom to top
Q3) If the payoffs are in monetary terms,the expected value of the payoffs is often referred to as ______.
A)expected profit value (EPV)
B)expected loss value (ELV)
C)expected returns value (ERV)
D)expected monetary value (EMV)
To view all questions and flashcards with answers, click on the resource link above. Page 31