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Ch 5, 8, 12

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Angie Koslowski
Quiz by Angie Koslowski, updated more than 1 year ago
Angie Koslowski
Created by Angie Koslowski over 9 years ago
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Question 1

Question
Which decision making application involves fixed and variable costs?
Answer
  • Factor Analysis
  • Break even analysis
  • NPV analysis
  • Regression analysis

Question 2

Question
How many decision alternatives are there in a standard decision table for a problem involving 3 states of nature and 15 payoffs?
Answer
  • 3
  • 5
  • 18
  • none of the others

Question 3

Question
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?
Answer
  • 1000/day
  • 200/day
  • 400/day
  • 0/day

Question 4

Question
Which project management model is used for time reduction applications?
Answer
  • Crashing
  • Regression
  • Slack
  • PERT-Cost

Question 5

Question
Which one of the following multiple time distributions are skewed left?
Answer
  • 3, 4, 8
  • 2, 2, 2
  • 5, 8, 9
  • 4, 6, 8

Question 6

Question
The output distribution for a multiple time estimate project is assumed to be?
Answer
  • Beta
  • Normal
  • Constant
  • Uniform

Question 7

Question
In an AOA network the nodes represent?
Answer
  • Events
  • Activities
  • Down time
  • Slack

Question 8

Question
In a beta distribution the most likely time is?
Answer
  • Closer to the most pessimistic time
  • Closer to the most optimistic time
  • Equal to the expected time
  • None of the above

Question 9

Question
Which variance should be used with a project with multiple critical paths?
Answer
  • The smallest variance
  • The largest variance
  • The sum of all variances
  • The average variance

Question 10

Question
In crashing analysis the crashing cost function is assumed to be?
Answer
  • Non-linear
  • Uniform
  • Linear
  • Normal

Question 11

Question
Which one of the following multiple time estimates is normally distributed?
Answer
  • 1,5,9
  • 3,3,3
  • 2,3,11
  • None of the above

Question 12

Question
Slack is defined as?
Answer
  • LF – LS
  • Normal time – crash time
  • LS – ES
  • LS - EF

Question 13

Question
Crash time is defined as the?
Answer
  • Minimum time required for a task
  • Maximum time required for a task
  • Average slack time
  • Normal time – slack time

Question 14

Question
which project mgmt system was developed by dupont in 1957?
Answer
  • CPM
  • Gantt Chart
  • Decision Tree
  • PERT

Question 15

Question
generally slack mgmt involves the administration of?
Answer
  • Fundraising
  • non critical path activities
  • critical path activities
  • task definitions

Question 16

Question
in crashing, which activities are generally selected first?
Answer
  • average cost
  • highest cost
  • non critical
  • lowest cost

Question 17

Question
the distribution of a project task with the time estimate 7,11,19 is?
Answer
  • skewed left
  • normally distributed
  • uniformly distributed
  • skewed right

Question 18

Question
which DSS is used for determining the optimal minimum cost crashing schedule?
Answer
  • NPV
  • none of the others
  • decision trees
  • forecasting

Question 19

Question
which graph shows the sequencing of tasks over time?
Answer
  • flow chart
  • decision tree
  • histogram
  • gantt chart

Question 20

Question
an activity with a slack of zero is called a _______ activity
Answer
  • none of the others
  • critical
  • earliest start
  • completed

Question 21

Question
which one of the following multiple time estimates will have an expected time equal to the most likely time?
Answer
  • 7, 10, 12
  • 4, 6, 8
  • 3,4,8
  • 2,5,11

Question 22

Question
the output expected time distribution for a multiple time estimate project is assumed to be
Answer
  • beta
  • uniform
  • normal
  • constant

Question 23

Question
which analytical process is used to determine the optimal way to reduce overall project time?
Answer
  • PERT cost
  • crashing
  • slack management
  • PERT

Question 24

Question
which one of the following statements about gantt charts is true?
Answer
  • shows the scheduling of individual projects over time
  • evolved from the PERT chart
  • Developed during WW2
  • shows a plot of budget over time

Question 25

Question
Slack is equal to?
Answer
  • LST-LFT
  • EST-LST
  • LST-EST
  • EST+LST

Question 26

Question
which one of the following statements best describes the critical path?
Answer
  • 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

Question 27

Question
PERT and CRM analysis are used for assessing the?
Answer
  • critical project tasks
  • shortest time in which a project can be completed
  • all of the others
  • resources needed to complete a project

Question 28

Question
The primary purpose of supply chain management is to?
Answer
  • Link customers
  • Create exclusive suppliers
  • Reduce inventory
  • Synchronize supplier operations

Question 29

Question
Which one of the following is an input supplier selection using factor analysis?
Answer
  • Factor weights
  • Supplier characteristics
  • Suppliers
  • all others

Question 30

Question
Which one is not a supply chain operations to financial link?
Answer
  • Percentage defects – Liabilities
  • Inventory turns – Working capital
  • Product development time - Revenue
  • Inventory – Current assets

Question 31

Question
A responsive supply chain matches best with?
Answer
  • Predictable demand
  • High product variability
  • On time delivery
  • Low inventory levels

Question 32

Question
Which statement about purchasing role is best?
Answer
  • Focus on delivery dates
  • Satisfy long term supply needs
  • Concentrate on tracking orders
  • Focus on price negotiations

Question 33

Question
In improving supply chain effectiveness a firm should never?
Answer
  • Implement backward VI
  • Implement forward VI
  • Go beyond 1st tier suppliers
  • None of the above

Question 34

Question
Which one of the following DSSs is most likely used in supplier selection?
Answer
  • Net present value
  • Aggregate planning
  • Factor analysis
  • Decision trees

Question 35

Question
A key step in designing a supply chain consists of linking the internal chain to?
Answer
  • Suppliers and customers
  • Suppliers only
  • Customers only
  • Key suppliers and customers

Question 36

Question
The metric inventory turns is defined as?
Answer
  • Inventory value divided by annual sales
  • Inventory multiplied by sales
  • Annual sales divided by inventory value
  • Ending monthly inventory

Question 37

Question
In the Bullwhip phenomena variability ___________ as you move up the supply chain?
Answer
  • Increases
  • Decreases
  • Remains constant
  • none of the others

Question 38

Question
An efficient supply chain is best associated with?
Answer
  • High product/service costs
  • Stable products/services
  • High inventories
  • Frequent product/service design changes

Question 39

Question
Which one of the following is not a step in the acquisition process?
Answer
  • Forecast requirements
  • Select suppliers
  • Track orders
  • none of others

Question 40

Question
EDI stands for?
Answer
  • Educational decision institute
  • Electronic decision interchange
  • Electronic data interchange
  • Electronic data institute

Question 41

Question
Which one of the following is a supply chain performance metric?
Answer
  • Information flow lead-time
  • All of the others
  • Amount spent of premium freight
  • Unplanned changeovers

Question 42

Question
An efficient supply chain would be characterized by?
Answer
  • Product flow
  • Low capacity cushions
  • High inventory turns
  • All of the others

Question 43

Question
A firm with a responsive supply chain would best be characterized by?
Answer
  • Product focus
  • Low capacity cushions
  • Process focus
  • Long delivery times

Question 44

Question
Which one of the following is a supply chain performance metric?
Answer
  • Unplanned changeovers
  • All of the others
  • Information flow lead-time
  • Amount spent of premium freight

Question 45

Question
What is the value of inventory for a firm with an inventory turn of 10 and annual cost of sales of $500 million?
Answer
  • $10 million
  • None of the others
  • $50 million
  • $100 million

Question 46

Question
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?
Answer
  • 5
  • 50
  • 20
  • 10

Question 47

Question
Which one of the following is not a major supply chain decision issue?
Answer
  • Product/service features
  • Distribution
  • Location
  • Inventory

Question 48

Question
Which DSS used in supplier selection involves performance characteristics and weights?
Answer
  • Factor analysis
  • Break-even analysis
  • NPV
  • Linear programming

Question 49

Question
An efficient supply chain is best associated with?
Answer
  • High product/service costs
  • Stable products/services
  • Frequent product/service design changes
  • High inventories

Question 50

Question
What is an organized approach for improving performance and reducing costs throughout the supply chain.
Answer
  • Vertical integration
  • Value analysis
  • NPV analysis
  • Break-even analysis

Question 51

Question
Which one of the following represents the most significant source of disruption in an external supply chain?
Answer
  • Forecasting errors
  • Large inventories
  • Engineering change orders
  • Late deliveries

Question 52

Question
Which one of the following is not a standard AP strategy?
Answer
  • Chasing
  • Combo
  • Level
  • none of the others

Question 53

Question
Which one of the following is a proactive AP strategy?
Answer
  • Work force changes
  • Creative pricing
  • Overtime
  • Anticipator inventory

Question 54

Question
Which AP strategy would be best given large hiring/layoff costs?
Answer
  • Chasing
  • Combo
  • Level
  • random

Question 55

Question
Typically, under-time is defined as?
Answer
  • Being layoff
  • Being paid but not working
  • Similar to overtime
  • Not being paid but working

Question 56

Question
Which one of the following AP costs is the most difficult to estimate?
Answer
  • Subcontracting
  • Inventory
  • Hiring
  • Backorder

Question 57

Question
Which one of the following is not a reactive aggregate planning option?
Answer
  • Creative pricing
  • Inventory
  • Work-force adjustments
  • Backorder

Question 58

Question
Which one of the following is not a typical AP objective?
Answer
  • Minimize inventory
  • Minimize costs
  • Minimize facility utilization
  • Maximize efficiency

Question 59

Question
Which one of the following functions provides inputs to the AP process?
Answer
  • Marketing
  • Finance
  • Human resources
  • All of the above

Question 60

Question
Which one of the following is an example of an AP physical constraint?
Answer
  • Production capacity
  • Backorder levels
  • Inventory policy
  • Overtime pay rate

Question 61

Question
Which one of the following applies best to a level AP strategy?
Answer
  • Change work force levels
  • Use Inventory
  • Decrease output to meet demand
  • ) Implement a promotional campaign

Question 62

Question
The graphical solution to the LP model is limited to?
Answer
  • Two constraints
  • No more than five constraints
  • Two variables
  • More than one variable

Question 63

Question
Which special LP condition involves no limits on one or more of the decision variables?
Answer
  • Integer solution
  • Multiple optimal solution
  • Unbounded solution
  • Inconsistent solution

Question 64

Question
Which one of the following is not a standard LP constraint type?
Answer
  • <>
  • =
  • =>
  • <=

Question 65

Question
Which one of the following sets of constraints are inconsistent?
Answer
  • X1 = 5, X1 >= 3
  • X1 <= 5, X1 <= 10
  • X1 >= 4, X2 <= 2
  • X1 <=5, X1 >= 10

Question 66

Question
Sensitivity analysis indicates the range of the OF coefficients over which the current solution is?
Answer
  • Infeasible
  • None of the others
  • Suboptimal
  • Optimal

Question 67

Question
Typically, which one of the following is the first step in developing a LP model?
Answer
  • Identify variables
  • Identify constraint types
  • Perform sensitivity analysis
  • Construct the objective function

Question 68

Question
Which one of the following is a special LP solution type?
Answer
  • Multiple optimal solutions
  • Unbounded
  • Infeasible
  • All of the others

Question 69

Question
The shadow price associated with constraint with resources remaining is?
Answer
  • None of the others
  • Equal to the market price
  • Equal to the value of the objective function
  • Zero

Question 70

Question
A maximization problem must contain at least one?
Answer
  • Greater-than-or-equal-to type constraint
  • Cost coefficient
  • Less-than-or-equal-to type constraint
  • Dummy variable

Question 71

Question
Which special LP condition involves inconsistent constraints?
Answer
  • Unbounded solution
  • Negative solution
  • Infeasible solution
  • Multiple optimal solution

Question 72

Question
Typically, which one of the following is the first step in developing a LP model?
Answer
  • Identify variables
  • Perform sensitivity analysis
  • Construct the objective function
  • Identify constraint types

Question 73

Question
The optimal values of the variables in a minimization problem with all of the constraints less-than-or-equal-to are?
Answer
  • Zero
  • Ten
  • Equal to the RHS
  • Can not be determined

Question 74

Question
Which one of the following is a typical LP objective?
Answer
  • Maximize manpower utilization
  • All of the others
  • Minimize costs
  • Maximize profits

Question 75

Question
Which one of the following type of constraints is associated with slack?
Answer
  • =
  • >=
  • <>
  • <=

Question 76

Question
The shadow price associated with constraint with resources remaining is?
Answer
  • Equal to the value of the objective function
  • Zero
  • None of the others
  • Equal to the market price

Question 77

Question
In an LP model the optimal solution lies?
Answer
  • Outside the boundary
  • Inside the boundary
  • Besides the boundary
  • On the boundary

Question 78

Question
Which one of the following is a basic linear programming assumption?
Answer
  • Non-integer solutions
  • Variable constants
  • Dependent variables
  • Non-linear relationships
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