Exam (elaborations)
OMGT STUDY TERMS EXAM 2 QUESTIONS WITH CORRECT ANSWERS
- Course
- Institution
OMGT STUDY TERMS EXAM 2 QUESTIONS WITH CORRECT ANSWERS
[Show more]
Content preview
OMGT STUDY TERMS EXAM 2QUESTIONS WITH CORRECT ANSWERS
Which of the following statements about learning curves is BEST? - Answer-C)
Underestimated learning effects may cause overestimation of capacity needs.
Consider the system composed of four processes linked by a conveyor belt. There is no
storage between these processes pictured below. Which statement is BEST - Answer-
D) Overall system improvement efforts should focus on process 1.
Customer arrivals at a dry cleaning service occur randomly throughout the day. The
distribution that is usually used to model the interval between arrivals is the: - Answer-B)
single channel, multiple phase
Which of the following statements about simulation is BEST? - Answer-B) Simulation
permits managers to test the effects of new policies and procedures without disrupting
customer service.
Customer arrivals at a dry cleaning service occur randomly throughout the day. The
distribution that is usually used to model the interval between arrivals is the: - Answer-A)
Poisson distribution.
Which of the following is characteristic of Monte Carlo simulation? - Answer-C)
Statistical sampling is used to create outcomes for many trials.
, Each outcome of flipping a fair coin is completely independent of the previous flip. This
outcome is known as: - Answer-B) memory less.
Which of the following statements about theoretical capacity is BEST? - Answer-B)
Running a factory at this level for a short time is often better than permanently raising
resource levels.
A bottling machine has a theoretical capacity of 100 bottles per minute. During every ten
hour shift it operates continuously but is shut down once for 30 minutes for cleaning,
inspection, and lubrication. What is its rated capacity? - Answer-B) 95 bottles/minute
Which of these factors typically does NOT impact capacity? - Answer-A) fixed cost
A lead capacity strategy has the advantage of: - Answer-C) assuring adequate capacity
during all types of growth.
An example of a variable cost is: - Answer-A) a payment to your raw materials supplier.
If a firm cannot make a profit regardless of output volume, then: - Answer-C) VC > R.
The bank manager of a busy downtown location found herself unable to find good teller
help so she invested in an ATM to handle the routine withdrawals that tended to occupy
an inordinate amount of the teller's time. Before she installed the ATM she found that
customers were arriving on average every 2 minutes (Poisson distributed) and it took a
teller 30 seconds (exponentially distributed) to process their request. The ATM is able to
maintain a constant 30 second service time. What is the impact on system utilization? -
Answer-D) There is no change.
One advantage of simulation modeling is: - Answer-C) it allows the user to conduct a
"what if" analysis.
Which of the following is NOT an appropriate measure of capacity? - Answer-D)
thickness of laminate on a desktop
What is the break even point for location D if Jimbo decides to charge $21 per student?
- Answer-A) 4,000 students
A company with fixed costs of $10,000 per month has a target price of $165 for their
sole product, a heat shield for masonry fireplaces. What level of output represents their
break-even point if their variable cost for producing is $35 per unit? - Answer-
Which of the following statements about capacity strategies is NOT correct? - Answer-
D) A lag capacity strategy would be well-suited for a period of high growth.
Wally's Filling Station is manned by one capable attendant that can fill your tank and
check your tires, oil, and water in 5 minutes. If four customers arrive each hour, and the
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now