GSCM - Quiz - Week 2

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Question 1.1. (TCO 5) Which of the following is not one of the basic types of forecasting?(Points : 3)

        Qualitative

        Time series analysis

        Causal relationships

        Simulation

        Force field analysis  

Question 2.2. (TCO 5) In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand? (Points : 3)

        Cyclical elements

        Future demand

        Past demand

        Inconsistent demand

        Level demand

Question 3.3. (TCO 5) Which of the following forecasting methodologies is considered a causal forecasting technique? (Points : 3)

        Exponential smoothing

        Weighted moving average

        Linear regression

        Historical analogy

        Market research

Question 4.4. (TCO 5) Which of the following forecasting methods is very dependent on selection of the right individuals who will judgmentally be used to actually generate the forecast? (Points : 3)

        Time series analysis

        Simple moving average

        Weighted moving average

        Delphi method

        Panel consensus

Question 5.5. (TCO 5) In business forecasting, what is usually considered a long-term time period? (Points : 3)

        Three months or longer

        Six months or longer

        One year or longer

        Two years or longer

        Ten years or longer

Question 6.6. (TCO 5) Which of the following forecasting methods can be used for short-term forecasting? (Points : 3)

        Simple exponential smoothing

        Delphi technique

        Market research

        Hoskins-Hamilton smoothing

        Serial regression

Question 7.7. (TCO 5) Capacity planning that involves hiring, layoffs, some new tooling, minor equipment purchases, and subcontracting is considered which one of the following planning horizons? (Points : 3)

        Intermediate range

        Long range

        Short range

        Current

        Upcoming

Question 8.8. (TCO 5) If the best operating level of a piece of equipment is at a rate of 400 units per hour and the actual output during an hour is 300 units, which of the following is the capacity cushion? (Points : 3)

        25%

        100 units per hour

        75%

        125%

        133%

Question 9.9. (TCO 5) The way to build greater flexibility in your workers is to do which of the following? (Points : 3)

        Pay higher wages to motivate a willingness to do a variety to tasks

        Provide a broader range of training

        Provide a wide variety of technology to augment workers skills

        Institute a "pay for skills" program

        Use part-time employees with specialized skills as needed

Question 10.10. (TCO 5) At a decision point in a decision tree, which machine would you select when trying to maximize payoff when the anticipated benefit of selecting machine A is $45,000 with a probability of 90%, the expected benefit of selecting machine B is $80,000 with a probability of 50%, and the expected benefit of selecting machine C is $60,000 with a probability of 75%? (Points : 3)

        Machine A

        Machine B

        Machine C

        You would be indifferent between machines A and C.

        You would be indifferent between machines A and B.