Which is not true regarding the difference between goods and services? correct answers Tangible goods are generally produced and consumed simultaneously; services are not.
The service sector makes up approximately what percentage of all jobs in the United States? correct answers 80%.
Which is...
Mar 3203 Exam 1 || with 100% Errorless Answers.
Which is not true regarding the difference between goods and services? correct answers Tangible
goods are generally produced and consumed simultaneously; services are not.
The service sector makes up approximately what percentage of all jobs in the United States?
correct answers 80%.
Which is not true regarding differences between goods and services? correct answers Goods tend
to have higher customer interaction than services.
Among the ethical and social challenges facing operations managers are___________. correct
answers Maintaining a sustainable environment.
The person who is most noted for his contributions to quality control in operations management
was__________. correct answers W. Edwards Deming.
The person who introduced standardized, interchangeable parts was __________. correct
answers Eli Whitney.
The capital investment each year in the United States usually __________. correct answers
Increases.
The three major business functions necessary to all organizations are ___________. correct
answers Marketing, finance/accounting and production/operations.
An operation task performed at Hard Rock Café is __________. correct answers Preparing
employee schedules.
The service sector has lower productivity improvements than the manufacturing sector because
__________. correct answers The service sector is usually more labor intensive than the
manufacturing sector.
Which of the following is the best example of a pure service? correct answers Counseling.
Which of the following is not a typical service attribute? correct answers Easy to store.
Which of the following is not one of the basic functions of the management process? correct
answers Inspecting.
The "father" of scientific management is __________. correct answers Fredrick W. Taylor.
The primary purpose of the mean absolute deviation (MAD) in forecasting is to __________.
correct answers Measure forecast accuracy.
, A forecast that projects a company's sales is a(n) ___________. correct answers Demand
forecast.
For a given product demand, the time-series trend questions is 53-4X. The negative sign on the
slope of the equation__________. correct answers Is an indication that product demand is
declining.
Quantitative methods of forecasting include __________. correct answers Exponential
smoothing.
The last four weekly values of sales were 80, 100, 105 and 90 units. The last four forecasts were
60, 80, 95 and 75 units. These forecasts illustrate __________. correct answers Bias.
Which of the following smoothing constants would make an exponential smoothing forecast
equivalent to a naïve forecast? correct answers 1.0.
Forecasts are usually classified into three categories including __________. correct answers
Short-range, medium-range, and long-range.
Which of the following statements about time-series forecasting is true? correct answers It is
based on the assumption that the analysis of past demand helps predict future demand.
Forecasts used for new product planning, capital expenditures, facility location or expansion, and
R&D typically utilize a __________. correct answers Long-range time horizon.
Time-series patterns that repeat themselves after a period of days or weeks are called
__________. correct answers Seasonality.
A regression model is used to forecast sales based on advertising dollars spent. The regression
line is y=500+35X and the coefficient of determination is .90. Which is the best statement about
this forecast model? correct answers The correlation between sales and advertising is positive.
Which time-series model assumes that demand in the next period will be equal to the most recent
periods demand? correct answers Naïve approach.
If demand is not uniform and constant, the stockout risks can be controlled by __________.
correct answers Adding safety stock.
A disadvantage of the fixed-period inventory system is that __________. correct answers A
stockout is possible.
In the probability model, increasing the service level will __________. correct answers Increase
the cost of the inventory policy.
Inventory management policies based on ABC analysis might include investing __________.
correct answers More in supplier development for A items.
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