Which of the following is not one of the nine steps utilized in the most complete form of CPFR?

Which of the following is not one of the nine steps utilized in the most complete form of CPFR? a) identify exceptions for order forecasts b) create...

"Inside information" is most likely garnered through which of the following forecasting methods?

"Inside information" is most likely garnered through which of the following forecasting methods? a) exponential smoothing b) seasonal indexes c) naïve d)...

_________ is a collaborative process between two trading partners that establishes formal guidelines for joint forecasting and planning.

_________ is a collaborative process between two trading partners that establishes formal guidelines for joint forecasting and planning. a) Collaborative...

Which of the following is not typically done jointly by CPFR trading partners?

Which of the following is not typically done jointly by CPFR trading partners? a) set forecasts b) plan production c) replenish inventories d) raise...

Combined forecasting involves a rule that

Combined forecasting involves a rule that a) you must work with different vendors b) you need different forecasters c) you must always use a quantitative...

Which of the following would not be a consideration for selecting a forecasting software package?

Which of the following would not be a consideration for selecting a forecasting software package? a) How easy is the package to learn? b) Is it possible...

Which of the following is the simplest forecasting method?

Which of the following is the simplest forecasting method? a) Naïve b) Moving average c) Weighted moving average d) Trend adjusted exponential smoothing e)...

Given the following data, use exponential smoothing (a = .1) to develop a demand forecast for period 3. Assume the forecast for the initial period is 500. What is the forecast?

Given the following data, use exponential smoothing (a = .1) to develop a demand forecast for period 3. Assume the forecast for the initial period is...

Which of the following is not a step in Forecasting Seasonality?

Which of the following is not a step in Forecasting Seasonality? a) Calculate a seasonal index for each season of each year b) Divide this year's...

What would be the 4-month simple moving average forecast for July?

A firm has the following order history over the last 6 months. January 120 February 95 March 100 April 75 May 100 June 50 What would be the 4-month...

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 1000 units, and it was based on 99 periods of demand. This period's actual demand was 0 units. What is your forecast for next period?

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 1000 units, and it was based on 99 periods of demand....

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 200 units, and it was based on 5 periods of demand. This period's actual demand was 300 units. What is your forecast for next period?

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 200 units, and it was based on 5 periods of demand....

Suppose that you are using the naïve forecasting method with trend to forecast sales. Sales have been increasing by 10% per week. Two weeks ago, sales amounted to $100. What should your forecast be for this week?

Suppose that you are using the naïve forecasting method with trend to forecast sales. Sales have been increasing by 10% per week. Two weeks ago, sales...

Suppose that you are using the naïve forecasting method with trend to forecast sales. If sales have been increasing by 40% per month, and this month's sales amounted to $1200, what would your forecast be for next month?

Suppose that you are using the naïve forecasting method with trend to forecast sales. If sales have been increasing by 40% per month, and this month's...

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been increasing by 40% every period. How will your forecasts perform?

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been increasing by 40% every period. How will...

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been increasing by 20% every period. How will your forecasts perform?

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been increasing by 20% every period. How will...

Suppose that you are using exponential smoothing with a = 0.5 and your initial forecast 5 months ago was for 100 units. If the actual demand last month was 0 units, which of the following is definitely true?

Suppose that you are using exponential smoothing with a = 0.5 and your initial forecast 5 months ago was for 100 units. If the actual demand last month...

What is the mean squared error of the following forecasts?

What is the mean squared error of the following forecasts? Month Actual Sales Forecast Jan. 68 60 Feb. 48 50 Mar. 50 60 Apr. 30 30 a) 168 b) 5 c)...

What is the mean squared error of the following forecasts?

What is the mean squared error of the following forecasts? Month Actual Sales Forecast Jan. 614 600 Feb. 480 480 Mar. 500 450 Apr. 500 600 a) 3174 b)...

What is the mean absolute deviation of the following forecasts?

What is the mean absolute deviation of the following forecasts? Month Actual Sales Forecast January68 60 February 48 50 March 50 60 April 30 30 a)...

What is the weighted moving average forecast for March, assuming a weight of 60% for the most recent month, 30% for the month preceding the most recent month, and 10% for the month preceding that one?

A firm has had the following order history over the last 4 months: November 140 December 80 January 100 February 150 What is the weighted moving average...

Suppose that you are using the exponential smoothing forecasting method, and this period's forecast (Ft) was 100% accurate (i.e., no error). If a = .5, which of the following is definitely true?

Suppose that you are using the exponential smoothing forecasting method, and this period's forecast (Ft) was 100% accurate (i.e., no error). If a =...

Which of the following forecasting methods would be most accurate if demand were rapidly decreasing?

Which of the following forecasting methods would be most accurate if demand were rapidly decreasing? a) 3-month moving average b) 6-month moving average c)...

Given the following data, use exponential smoothing (a = .2) to develop a demand forecast for period 3. Assume the forecast for the initial period is 5. What is the forecast?

Given the following data, use exponential smoothing (a = .2) to develop a demand forecast for period 3. Assume the forecast for the initial period is...

Suppose that you want to set up a 3-month weighted moving average forecasting system. You want the weights to be percentages (that add to 100%). Furthermore, you want weights for the most recent two months to be equal but you want each of those weights to be twice as large as the weight for the oldest month. What should the weight be for the oldest month?

Suppose that you want to set up a 3-month weighted moving average forecasting system. You want the weights to be percentages (that add to 100%). Furthermore,...

Consider the demand data listed below. What is the 4-month moving average forecast for June?

Consider the demand data listed below. What is the 4-month moving average forecast for June? Month Actual Demand Jan. 10,000 Feb. 12,000 Mar. 24,000 Apr....

When is exponential smoothing equivalent to the "naïve" approach to forecasting?

When is exponential smoothing equivalent to the "naïve" approach to forecasting? a) When the smoothing constant is chosen randomly b) a = 0 c) a =...

What is the mean absolute deviation and mean squared error of the following forecast

What is the mean absolute deviation and mean squared error of the following forecast Day Sales Sale Forecast 24 37 31 41 27 46 29 47 25 50 a) 13,...

What is the mean absolute deviation of the following forecasts?

What is the mean absolute deviation of the following forecasts? Month Actual Sales Forecast Jan. 614 600 Feb. 480 480 Mar. 500 550 Apr. 500 600 a)...

What would be a 3-month weighted moving average forecast for July, using weights of 40% for the most recent month, 30% for the month preceding the most recent month, and 30% for the month preceding that one?

A firm has the following order history over the last 6 months. January 120 February 95 March 100 April 75 May 100 June 50 What would be a 3-month...

Suppose that Jane's company uses exponential smoothing to make forecasts. Further suppose that last period's demand forecast was for 500 units and last period's actual demand was 480 units. In addition, yesterday Jane found out that this period's actual demand will be for 550 units. Jane's company uses an a value of .20. Today, Jane's boss asked her to prepare a forecast for this period. What should that forecast be?

Suppose that Jane's company uses exponential smoothing to make forecasts. Further suppose that last period's demand forecast was for 500 units and last...

Suppose that Sally's company uses exponential smoothing to make forecasts. Further suppose that last period's demand forecast was for 20,000 units and last period's actual demand was 21,000 units. Sally's company uses a smoothing constant (a) equal to 40%. What should be the forecast for this period?

Suppose that Sally's company uses exponential smoothing to make forecasts. Further suppose that last period's demand forecast was for 20,000 units and...

What is a tracking signal used for?

What is a tracking signal used for? a) To identify trends in actual data b) To identify seasonality in actual data c) To identify the effect of business...

The following correlation coefficient values come from five different linear regression models. Which model "fits" the data the best?

The following correlation coefficient values come from five different linear regression models. Which model "fits" the data the best? a) 0.99 b) 0.5 c)...

Which of the following values of the correlation coefficient implies that the value of the dependent variable decreases as the value of the independent variable increases?

Which of the following values of the correlation coefficient implies that the value of the dependent variable decreases as the value of the independent...

Which of the following is true with respect to the correlation coefficient r?

Which of the following is true with respect to the correlation coefficient r? a) r2 = r b) r2 = | r | c) r2 = r d) r2 = | r | e) r2 can never equal...

What is the statistic that measures the direction and strength of the linear relationship between two variables?

What is the statistic that measures the direction and strength of the linear relationship between two variables? a) r2 b) Coefficient of variation c)...

What value of the correlation coefficient implies that there is no relationship between the two variables of a linear regression model?

What value of the correlation coefficient implies that there is no relationship between the two variables of a linear regression model? a) -1 b) 0 c)...

In linear regression, an r2 of .984 implies what?

In linear regression, an r2 of .984 implies what? a) 98.4% of the variability of the independent variable is explained by the dependent variable b)...

What value of the correlation coefficient implies that there is a perfect positive linear relationship between the two variables of a linear regression model?

What value of the correlation coefficient implies that there is a perfect positive linear relationship between the two variables of a linear regression...

What does the linear regression line do?

What does the linear regression line do? a) Minimizes sum of errors b) Minimizes product of squared errors c) Minimizes sum of squared errors d) Minimizes...

In linear regression, what are we trying to forecast?

In linear regression, what are we trying to forecast? a) Beta parameter b) Dependent variable c) Independent variable d) Y-intercept of the line e)...

Suppose that you are interested in trend-adjusted exponential smoothing. Which of the following values of the trend smoothing constant, ß, would most likely be seen in practice?

Suppose that you are interested in trend-adjusted exponential smoothing. Which of the following values of the trend smoothing constant, ß, would most...

In exponential smoothing, which of the following values for a would generate the most stable forecast?

In exponential smoothing, which of the following values for a would generate the most stable forecast? a) 0.10 b) 0.25 c) 0.50 d) 0.75 e) 1.00 Answer: a)...

In exponential smoothing, what values can the smoothing constant, a, have?

In exponential smoothing, what values can the smoothing constant, a, have? a) [-1, 1] b) [1, 8] c) [0, 8] d) [0, 1] e) [-8, 8] Answer: d) [0,...

What are the most frequently used forecasting techniques?

What are the most frequently used forecasting techniques? a) Linear regression b) Simple mean c) Exponential smoothing d) Weighted moving average e)...

The following sales figures show actual sales over the identified time period. What can be determined by comparing a simple mean forecast and a six month moving average forecast?

The following sales figures show actual sales over the identified time period. What can be determined by comparing a simple mean forecast and a six...

Suppose that you are using the four-period weighted moving average forecasting method to forecast sales and you know that sales will be increasing every period for the foreseeable future. What of the following would be the best set of weights to use (listed in order from the most recent period to four periods ago, respectively)?

Suppose that you are using the four-period weighted moving average forecasting method to forecast sales and you know that sales will be increasing every...

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been decreasing by 10% every period. How will your forecasts perform?

Suppose that you are using the four-period simple moving average method to forecast sales, and sales have been decreasing by 10% every period. How will...

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 100 units, and it was based on 6 periods of demand. This period's actual demand was 86 units. What is your forecast for next period?

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 100 units, and it was based on 6 periods of demand....

Suppose that you are using the naïve forecasting method with trend to forecast sales. If sales have been declining by 20% per week, and this week's sales amounted to $200, what would your forecast be for next week?

Suppose that you are using the naïve forecasting method with trend to forecast sales. If sales have been declining by 20% per week, and this week's...

The OM supervisor informs you, the researcher, that the data has a large standard deviation. What data pattern would you expect to observe once you generated a time series trend?

The OM supervisor informs you, the researcher, that the data has a large standard deviation. What data pattern would you expect to observe once you...

Which forecasting method assumes that next period's forecast is equal to this period's actual value?

Which forecasting method assumes that next period's forecast is equal to this period's actual value? a) Simple mean b) Ignorant c) Basic d) Naïve e)...

Which is typically the most difficult data pattern to predict?

Which is typically the most difficult data pattern to predict? a) Horizontal b) Trend c) Level d) Seasonality e) Cycle Answer: e) Cyc...

Which of the following is not considered to be one of the four basic patterns of time series data?

Which of the following is not considered to be one of the four basic patterns of time series data? a) Horizontal b) Trend c) Vertical d) Seasonality e)...

In looking at seasonal indexes one weakness to watch for is

In looking at seasonal indexes one weakness to watch for is a) use of the wrong alpha b) incorrect selection of weights c) a clear lack of linear...

Over the long term, which of the following forecasting models will likely require carrying the least amount of data?

Over the long term, which of the following forecasting models will likely require carrying the least amount of data? a) Naïve b) Simple mean c) Exponential...

Which of the following is the least useful sales forecasting model to use when sales are increasing?

Which of the following is the least useful sales forecasting model to use when sales are increasing? a) Trend adjusted exponential smoothing b) Simple...

Which of the following is a causal forecasting method?

Which of the following is a causal forecasting method? a) Naïve b) Moving average c) Weighted moving average d) Trend adjusted exponential smoothing e)...

A causal research model is based on the assumption that

A causal research model is based on the assumption that a) the independent variable is related to the dependent variable b) there is a relationship...

What are the two categories of quantitative models?

What are the two categories of quantitative models? a) Delphi and non-causal b) Causal and non-causal c) Delphi and time series d) Causal and time...

Which of the following forecasting methods is specifically designed to go through several rounds of modification before generating a final forecast?

Which of the following forecasting methods is specifically designed to go through several rounds of modification before generating a final forecast?  a)...

Which of the following forecasting methods is most likely to be implemented to change an existing quantitative forecast to account for a new competitor in the marketplace?

Which of the following forecasting methods is most likely to be implemented to change an existing quantitative forecast to account for a new competitor...

Which forecasting method suffers from the possibility of having one person's opinion dominate the forecast?

Which forecasting method suffers from the possibility of having one person's opinion dominate the forecast? a) Market research b) Executive opinion c)...

Which forecasting method is particularly good for determining customer preferences?

Which forecasting method is particularly good for determining customer preferences? a) Market research b) Executive opinion c) Delphi method d) Naïve...

Which forecasting method is particularly good for predicting technological changes and scientific advances?

Which forecasting method is particularly good for predicting technological changes and scientific advances? a) Market research b) Executive opinion c)...

One quantitative forecasting models limitation is

One quantitative forecasting models limitation is a) it is objective b) they are consistent c) they are based on mathematical formulas d) they are...

Which forecasting method seeks to develop a consensus among a group of experts?

Which forecasting method seeks to develop a consensus among a group of experts? a) Market research b) Executive opinion c) Delphi method d) Naïve...

Under which forecasting method does a group of managers meet to generate a forecast?

Under which forecasting method does a group of managers meet to generate a forecast? a) Market research b) Executive opinion c) Delphi method d) Naïve...

Qualitative forecasting methods

Qualitative forecasting methods a) are made objectively by the forecaster b) are made subjectively by the forecaster c) are made using existing data...

Which of the following companies helps businesses use weather data to make their business plans?

Which of the following companies helps businesses use weather data to make their business plans? a) i2 technologies b) Manugistics c) Planalytics d)...

The first step in forecasting is:

The first step in forecasting is: a) determine what data is available b) decide what to forecast c) evaluate and analyze appropriate data d) select...

Which of the following is not a feature common to all forecasting models?

Which of the following is not a feature common to all forecasting models? a) This period's forecast error is needed to compute next period's forecast. b)...

When evaluating forecasting models it is accurate to say:

When evaluating forecasting models it is accurate to say: a) they all rely on the same data sets b) they will provide the same results c) they are...

Forecasting is not a function which contributes to:

Forecasting is not a function which contributes to: a) deciding which business market to pursue b) deciding which product to produce c) deciding how...

Optimized production technology (OPT) was introduced by Eli _________.

Optimized production technology (OPT) was introduced by Eli _________. a) Goldratt b) Manning c) Jefferson d) Rosenblatt e) Strasburg Answer: a)...

When were Gantt charts developed?

When were Gantt charts developed? a) early 1800s b) early 1900s c) early 1920s d) early 1940s e) early 1960s Answer: b) early 190...

Jim-O's fast focus restaurant is opening up a new branch. Based on demand forecast the following service personnel levels are anticipated. What days will employee #1 have off?

Jim-O's fast focus restaurant is opening up a new branch. Based on demand forecast the following service personnel levels are anticipated. What days...

Jim-O's fast focus restaurant is opening up a new branch. Based on demand forecast the following service personnel levels are anticipated. What is the number of employees needed for Thursday-Friday pair?

Jim-O's fast focus restaurant is opening up a new branch. Based on demand forecast the following service personnel levels are anticipated. What is the...

Only Roses Flower Shop currently operates 7 days per week. The staffing needs for each day are shown in the following table. Each of the employees must have two consecutive days off in a week. (Since Monday is used as the first day of the pay week, an employee cannot be off on both Sunday and Monday.) What is the minimum number of employees that needs to be hired?

Only Roses Flower Shop currently operates 7 days per week. The staffing needs for each day are shown in the following table. Each of the employees must...

Which of the following is mostly like to be a policy constraint?

Which of the following is mostly like to be a policy constraint? a) strike at the supplier's plant b) raw material shipping problems c) decreasing...

Which of the following is mostly like to be a market constraint?

Which of the following is mostly like to be a market constraint? a) strike at the supplier's plant b) raw material shipping problems c) decreasing...

Which of the following is mostly like to be an internal resource constraint?

Which of the following is mostly like to be an internal resource constraint? a) increasing market demand b) raw material shipping problems c) decreasing...

Which of the following statements is not true?

Which of the following statements is not true? a) An hour lost at a bottleneck is an hour lost forever. b) An hour lost at a non-bottleneck is just...

The process batch should:

The process batch should: a) match the transfer batch. b) exceed the transfer batch. c) be smaller than the transfer batch. d) be fixed. e) be variable. Answer: e)...

What is a transfer batch?

What is a transfer batch? a) the quantity of finished goods that can be sold b) the quantity of items moved at the same time from one resource to...

What is a process batch?

What is a process batch? a) the quantity of finished goods that can be sold b) the quantity of items moved at the same time from one resource to the...

What is throughput?

What is throughput? a) the quantity of finished goods that can be sold b) the quantity of items moved at the same time from one resource to the next c)...

Which of the following statements is not a valid scheduling principle?

Which of the following statements is not a valid scheduling principle? a) Balance the process rather than the flow. b) Non-bottleneck usage is determined...

Consider a production line with five stations. The first station can process a unit in 8 minutes. The second station has two identical machines, each of which can process a unit in 18 minutes (each unit only needs to be processed on one of the two machines). The third station can process a unit in 4 minutes. The fourth station has two different machines, one can process a unit in 5 minutes, and the other one can process a unit in 9 minutes (each unit needs to be processed on both machines). The fifth station can process a unit in 10 minutes. Which station is the bottleneck station?

Consider a production line with five stations. The first station can process a unit in 8 minutes. The second station has two identical machines, each...

Consider a production line with five stations. Stations one through five can process a unit in 10, 15, 20, 5, and 12 minutes, respectively. What is the maximum throughput per hour?

Consider a production line with five stations. Stations one through five can process a unit in 10, 15, 20, 5, and 12 minutes, respectively. What is...

Which of the following is the least effective tactic for managing a bottleneck station?

Which of the following is the least effective tactic for managing a bottleneck station? a) Assign extra workers to the bottleneck station if necessary...

Which of the following sequencing rules is used for minimizing makespan in a two-stage, unidirectional process?

Which of the following sequencing rules is used for minimizing makespan in a two-stage, unidirectional process?  a) FCFS b) S/RO c) SPT d) CR e)...

Seven jobs must be scheduled. Each of the jobs must be processed on two machines (A and B) in the same order. The processing times are listed below. According to Johnson's rule, in what order should the jobs be processed?

Seven jobs must be scheduled. Each of the jobs must be processed on two machines (A and B) in the same order. The processing times are listed below....

Job A is due on day 15, and it is finished on day 12. What is its tardiness?

Job A is due on day 15, and it is finished on day 12. What is its tardiness? a) -3 b) 0 c) 3 d) both -3 and 3 e) none of these answer choices are...

What does "negative lateness" mean?

What does "negative lateness" mean? a) The job is finished after its due date. b) The job is finished on its due date. c) The job is finished before...

Five jobs must be scheduled. Each of the jobs must be processed on two machines (A and B) in the same order. The processing times are listed below. According to Johnson's rule, in what order should the jobs be processed?

Five jobs must be scheduled. Each of the jobs must be processed on two machines (A and B) in the same order. The processing times are listed below....

Using the following data, calculate the average job tardiness.

Using the following data, calculate the average job tardiness. Job Completion Date Due Date A 15 12 B 11 24 C 25 22 D 18 19 a) 6 days b) 1.5 days c)...

Using the following data, calculate the average job lateness.

Using the following data, calculate the average job lateness. Job Completion Date Due Date A 15 12 B 11 24 C 25 22 D 18 19 a) -2 days b) 3 days c)...

Which of the following scheduling rules minimizes mean job flow time?

Which of the following scheduling rules minimizes mean job flow time? a) first come, first served b) last come, first served c) earliest due date d)...

Which of the following scheduling rules minimizes the average number of jobs in the system?

Which of the following scheduling rules minimizes the average number of jobs in the system? a) first come, first served b) last come, first served c)...

Which of the following scheduling rules is often considered the fairest rule?

Which of the following scheduling rules is often considered the fairest rule? a) first come, first served b) last come, first served c) earliest due...

Which of the following is a measure of how long after the due date the job is completed?

Which of the following is a measure of how long after the due date the job is completed? a) job belatedness b) mean flow time c) makespan d) job overdueness e)...

Job A is due on day 15, and it is finished on day 12. What is its lateness?

Job A is due on day 15, and it is finished on day 12. What is its lateness? a) -3 b) 0 c) 3 d) both -3 and 3 e) none of these answer choices are correct Answer: a)...

A greater number of jobs in the system implies what?

A greater number of jobs in the system implies what? a) a higher work-in-process inventory level and a longer response time b) a lower work-in-process...

Green Inc. manufactures a variety of wooden desks. Five jobs are waiting to be processed using the LPT priority rule. Their processing times are shown in the following table. What is the makespan?

Green Inc. manufactures a variety of wooden desks. Five jobs are waiting to be processed using the LPT priority rule. Their processing times are shown...

Sweet-Dreams Inc. manufactures custom pillows. Five jobs are waiting to be processed using the SPT priority rule. Their processing times are shown in the following table. What is the average number of jobs in the system?

Sweet-Dreams Inc. manufactures custom pillows. Five jobs are waiting to be processed using the SPT priority rule. Their processing times are shown in...

The following jobs must be processed in the Super Clean motor shop. Assume that the company operates seven days per week. Using FCFS as the priority rule, calculate average job tardiness.

The following jobs must be processed in the Super Clean motor shop. Assume that the company operates seven days per week. Using FCFS as the priority...

Heavy Eyes Inc. manufactures custom pillows. Five jobs are waiting to be processed using the SPT priority rule. Their processing times are shown in the following table. What is the mean flow time?

Heavy Eyes Inc. manufactures custom pillows. Five jobs are waiting to be processed using the SPT priority rule. Their processing times are shown in...

Sweet-Dreams Inc. manufactures custom pillows. Five jobs are waiting to be processed. Job A has a flow time of 8 days, job B has a flow time of 10 days, job C has a flow time of 15 days, job D has a flow time of 20 days, and job E has a flow time of 27 days. What is the mean flow time?

Sweet-Dreams Inc. manufactures custom pillows. Five jobs are waiting to be processed. Job A has a flow time of 8 days, job B has a flow time of 10 days,...

Which of the following is a measure of whether the job is done ahead of, on, or behind schedule?

Which of the following is a measure of whether the job is done ahead of, on, or behind schedule? a) average number of jobs in system b) mean flow...

What does average number of jobs in the system measure?

What does average number of jobs in the system measure? a) WIP inventory b) due-date performance c) makespan d) job tardiness e) job lateness Answer: a)...

A measure of response time is:

A measure of response time is: a) makespan b) job flow time c) due date d) job lateness e) job schedule time Answer: b) job flow tim...

What does makespan measure?

What does makespan measure? a) WIP inventory b) due-date performance c) the amount of time it takes to finish a batch of jobs d) job tardiness e)...

If your company is concerned with customer response time you will measure scheduling effectiveness in terms of:

If your company is concerned with customer response time you will measure scheduling effectiveness in terms of: a) job reject rates b) job profit...

What does job flow time measure?

What does job flow time measure? a) the time a job spends in the shop b) due-date performance c) the amount of time it takes to finish a batch of...

If using CR as the priority rule, which of the following jobs will be scheduled first?

If using CR as the priority rule, which of the following jobs will be scheduled first? a) the first job arrives at a work center b) the job with the...

Using the S/RO rule, which of the following jobs will be scheduled first?

Using the S/RO rule, which of the following jobs will be scheduled first? a) the first job that arrives at a work center b) the job with the least...

The jobs listed below have not yet been scheduled. Using the S/RO technique, in what sequence would you schedule these jobs?

The jobs listed below have not yet been scheduled. Using the S/RO technique, in what sequence would you schedule these jobs? Job Slack Remaining Operations A...

The jobs listed below have not yet been scheduled. Today is day 0. Using the critical-ratio technique, in what sequence would you schedule these jobs?

The jobs listed below have not yet been scheduled. Today is day 0. Using the critical-ratio technique, in what sequence would you schedule these jobs? Job...

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using LCFS as a priority rule.

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using LCFS as a priority rule. Job Number Arrival...

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using FCFS as a priority rule.

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using FCFS as a priority rule. Job Number Arrival...

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using EDD as a priority rule.

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using EDD as a priority rule. Job Number Arrival Date...

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using LPT as a priority rule.

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using LPT as a priority rule. Job Number Arrival...

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using SPT as a priority rule.

The following jobs are waiting to be scheduled. Today is day 9. Determine the sequence of jobs by using SPT as a priority rule. 1) Job Number 2) Arrival...

Operation sequencing creates a work center plan based on available _______ and ______.

Operation sequencing creates a work center plan based on available _______ and ______. a) capacity, priorities b) demand, priorities c) capacity,...

Which of the following is not an assumption of priority rules?

Which of the following is not an assumption of priority rules? a) There is no variability in the setup time. b) There is no variability in the run...

What is Period 3's standard hour deviation for Frank's manufacturing firm, based on the following input/output information?

What is Period 3's standard hour deviation for Frank's manufacturing firm, based on the following input/output information? Input Information Period...

A Dallas firm manufactures dishwashing liquid. The manager wants to evaluate the performance of station 3, the bottleneck in the filling operation. The following output report is given.

A Dallas firm manufactures dishwashing liquid. The manager wants to evaluate the performance of station 3, the bottleneck in the filling operation....

Quick-Slim Inc. produces a variety of nutritional diet products. Management wants to evaluate the performance of Work Center 10, the bottleneck in the packaging line. The following input report is given.

Quick-Slim Inc. produces a variety of nutritional diet products. Management wants to evaluate the performance of Work Center 10, the bottleneck in the...

The initial backlog was 100 hours. Based on the above information, calculate the backlog hours of Work Center 10 at the end of period 3.

Slim-Quick Inc. produces a variety of nutritional diet products. Management wants to evaluate the performance of Work Center 10, the bottleneck in the...

Which of the following scheduling rules is a global priority rule?

Which of the following scheduling rules is a global priority rule? a) first come, first served b) last come, first served c) earliest due date d)...

Which of the following techniques is used to monitor work flow at individual work centers?

Which of the following techniques is used to monitor work flow at individual work centers? a) infinite loading b) finite loading c) forward scheduling d)...

If the schedule shows a 5 day slack between the end of Task A and start of Task B, this means:

If the schedule shows a 5 day slack between the end of Task A and start of Task B, this means: a) you must start Task B as soon as Task A ends. b)...

Which of the following techniques determines when the job must begin in order to be completed by the due date?

Which of the following techniques determines when the job must begin in order to be completed by the due date? a) infinite loading b) finite loading c)...

Slack can be calculated if __________.

Slack can be calculated if __________. a) infinite loading and finite loading are used together b) infinite loading and forward scheduling are used...

Which of the following is most likely the reason you may have to wait at the doctor's office?

Which of the following is most likely the reason you may have to wait at the doctor's office? a) infinite loading b) finite loading c) forward scheduling d)...

Which of the following scheduling techniques determines the earliest possible completion time for a job?

Which of the following scheduling techniques determines the earliest possible completion time for a job? a) finite loading b) infinite loading c)...

Which of the following scheduling techniques can be used to identify resource bottlenecks?

Which of the following scheduling techniques can be used to identify resource bottlenecks? a) finite loading b) infinite loading c) forward scheduling d)...

Which of the following scheduling techniques tends to break down over the long term?

Which of the following scheduling techniques tends to break down over the long term? a) input/output control b) infinite loading c) forward scheduling d)...

The two different approaches to load work centers in job-shop scheduling are __________________.

The two different approaches to load work centers in job-shop scheduling are __________________. a) load chart and process chart b) finite loading...

Which of the following techniques loads jobs without regard to the capacity available to do the work?

Which of the following techniques loads jobs without regard to the capacity available to do the work? a) finite loading b) infinite loading c) forward...

A progress chart shows the relationship between:

A progress chart shows the relationship between: a) a Gantt chart and PERT chart b) vacation schedule and work schedule c) forecast and historical...

Which of the following techniques loads jobs up to a predetermined capacity level?

Which of the following techniques loads jobs up to a predetermined capacity level? a) finite loading b) infinite loading c) forward scheduling d)...

A well designed high-volume system will minimize _________ inventory and reduce _____________for the product or service.

A well designed high-volume system will minimize _________ inventory and reduce _____________for the product or service. a) work-in-process, throughput...

Which of the following is not a feature of job-shop operations?

Which of the following is not a feature of job-shop operations? a) a process layout b) highly skilled employees c) special-purpose equipment and tooling d)...

Scheduling in the high-volume environment is typically done through what?

Scheduling in the high-volume environment is typically done through what? a) priority rules b) line design and balancing c) Thompson's rule d) Simpson's...

Flow operations can be ________ or ________ operations.

Flow operations can be ________ or ________ operations. a) intermittent, continuous b) intermittent, repetitive c) repetitive, single shot d) repetitive,...

Which of the following is not a feature of flow operations?

Which of the following is not a feature of flow operations? a) a process layout b) fixed routings c) special-purpose equipment and tooling d) high...

If the world capital market were fully integrated, the incentive to swap would be ________ because __________ arbitrage opportunities would exist.

If the world capital market were fully integrated, the incentive to swap would be ________ because __________ arbitrage opportunities would exist. A....

Swaps are primarily of value because they permit firms to

Swaps are primarily of value because they permit firms to A. tap new capital markets B. reduce risks C. reduce taxes D. do a and b only Answer: D....

The average interest rate offered by a specific group of multinational banks in London is known as the:

The average interest rate offered by a specific group of multinational banks in London is known as the: A. LIBOR rate B. prime rate C. fed funds rate D....

The exchange of debt-service obligations denominated in one currency for the service on an agreed-upon principal amount of debt denominated in another currency is known

The exchange of debt-service obligations denominated in one currency for the service on an agreed-upon principal amount of debt denominated in another...

In ________ swap, one party pays a fixed rate calculated at the same time of trade as a spread to a particular government bond, and the other sides pays a floating rate.

In ________ swap, one party pays a fixed rate calculated at the same time of trade as a spread to a particular government bond, and the other sides...

An ___ swap is an agreement between two parties to exchange interest payments for a specific maturity in an agreed upon notional amount.

An ___ swap is an agreement between two parties to exchange interest payments for a specific maturity in an agreed upon notional amount. A. interest...

Citigroup sells a call option on euros. If the exercise price is $0.93/euro and the spot price of the euro at date of expirations is $0.91/euro. Then, the option is said to be:

Citigroup sells a call option on euros. If the exercise price is $0.93/euro and the spot price of the euro at date of expirations is $0.91/euro. Then,...

Citigroup buys a put option on euros. If the exercise price is $0.93/euro and the spot price of the euro at date of expiration is $0.91/euro. Then, the option is said to be:

Citigroup buys a put option on euros. If the exercise price is $0.93/euro and the spot price of the euro at date of expiration is $0.91/euro. Then,...

Suppose the current spot rate for the euro is $1.95. Which of the following is correct? A put option with an exercise price of $1.96 is said to be:

Suppose the current spot rate for the euro is $1.95. Which of the following is correct? A put option with an exercise price of $1.96 is said to be: A....

Suppose the current spot rate for the euro is $1.94. Which of the following is correct? A call option with an exercise price of $1.95 is said to be:

Suppose the current spot rate for the euro is $1.94. Which of the following is correct? A call option with an exercise price of $1.95 is said to be: A....

The basic differences between forward and future contracts is that:

The basic differences between forward and future contracts is that: A. forward contracts are individually tailored while futures contracts are standardized B....

Which of the following is correct? Major advantages of future contracts include the:

Which of the following is correct? Major advantages of future contracts include the: A. large number of currencies traded B. extensive delivery dates...

Which of the following is correct? Options traded in the interbank market are known as:

Which of the following is correct? Options traded in the interbank market are known as: A. listed options B. exchange traded options C. over the counter...

Which of the following has provided a major inducement for speculators to participate in the futures market?

Which of the following has provided a major inducement for speculators to participate in the futures market? A. low margin requirements B. low bid...

What is the name of the market in the US where trading takes place in currency futures?

What is the name of the market in the US where trading takes place in currency futures? A. United Currency Options Market B. Philadelphia Stock Exchange C....

Traders on the foreign exchange market use ______________ to eliminate or cover the risk of loss on export or import orders denominated in foreign currencies.

Traders on the foreign exchange market use ______________ to eliminate or cover the risk of loss on export or import orders denominated in foreign currencies. A....

Sometimes a third bank, in addition to the issuing bank and the advising bank becomes involved with a letter of credit. This bank is called a _________?

Sometimes a third bank, in addition to the issuing bank and the advising bank becomes involved with a letter of credit. This bank is called a _________? a....

International factoring______?

International factoring______? a. Is more complicated than domestic factoring. b. Can be used to extend credit beyond what the exporter can normally...

An exporter can conduct its international business in a manner similar to the way it and most companies conduct domestic business by using?

An exporter can conduct its international business in a manner similar to the way it and most companies conduct domestic business by using? Answer: An...

International commercial risk can be evaluated by ____?

International commercial risk can be evaluated by ____? a. Credit report companies. b. factoring houses c. Some accounting firms, insurance companies,...

The risk(s) that an EXPORTER takes in requesting cash in advance as a means of payment is/are?

The risk(s) that an EXPORTER takes in requesting cash in advance as a means of payment is/are? Answer: it puts the exporter at a competitive...

Among other reasons, international transactions are perceived to have more risk of nonpayment because of?

Among other reasons, international transactions are perceived to have more risk of nonpayment because of? a. A lack of credit information b. A lack...

Argentina, after being chastised by the World Trade Organization for having increased its duty rate on footwear, reduced them, and immediately reimposed them through a ___ tax designed to protect its footwear industry against foreign competition?

Argentina, after being chastised by the World Trade Organization for having increased its duty rate on footwear, reduced them, and immediately reimposed...

In the Harmonized System of classification, an incomplete or unfinished product is classified ___?

In the Harmonized System of classification, an incomplete or unfinished product is classified ___? a. in several classifications, depending upon the...

Required documentation for entry into essentially all countries includes ___?

Required documentation for entry into essentially all countries includes ___? Answer: a form designated for entry, a Certificate of Origin, and...

Generally speaking, countries with scarce foreign currency resources will attempt to limit the granting of import licenses to companies that have generated export revenues and ___?

Generally speaking, countries with scarce foreign currency resources will attempt to limit the granting of import licenses to companies that have generated...

A value-added tax is eventually only paid by __?

A value-added tax is eventually only paid by __? Answer: consume...

The choice of a proper Incoterm is a critical decision because?

The choice of a proper Incoterm is a critical decision because? a. it can be an integral part of export strategy. b. it is linked to the level of...

The sentence " This merchandise licensed by U.S. for ultimate destination [country]. Diversion contrary to U.S. Law prohibited " is _____?

The sentence " This merchandise licensed by U.S. for ultimate destination [country]. Diversion contrary to U.S. Law prohibited " is _____? a. a Commerce...

The pro forma invoice ___?

The pro forma invoice ___? Answer: must be written with extreme care to avoid discrepancies between the letter of credit and the commercial ...

The commercial invoice ___.

The commercial invoice ___.  a. is sent ahead of the shipment b. is the same thing as a letter of credit c. replaces the need for an export...

The commercial invoice

The commercial invoice a.is sent ahead of the shipment. b.is the same thing as a letter of credit. c.replaces the need for an export license d.All...

A Certificate of Origin must be signed by the importer's chamber of commerce?

A Certificate of Origin must be signed by the importer's chamber of commerce? Answer: Fals...

A country may use import documents to enact a protectionist policy?

A country may use import documents to enact a protectionist policy? Answer: Tru...

Export quotas can be used to control scarce resources or prices of products for which a country has a monopoly?

Export quotas can be used to control scarce resources or prices of products for which a country has a monopoly? Answer: Tru...

Most End-Use Certificates are provided by the governments of exporting countries?

Most End-Use Certificates are provided by the governments of exporting countries? Answer: Fals...

The Shipper's Export Declaration is required for export parcels valued at more than $500 that are sent through the postal system?

The Shipper's Export Declaration is required for export parcels valued at more than $500 that are sent through the postal system? Answer: Tr...

A specialized commercial invoice is considered a trade barrier?

A specialized commercial invoice is considered a trade barrier? Answer: Fals...

A consular invoice can be considered a trade barrier?

A consular invoice can be considered a trade barrier? Answer: Tru...

Requirements for an export license can be used by a country to control the outflow of certain goods?

Requirements for an export license can be used by a country to control the outflow of certain goods? Answer: Tru...

The main billing document in a shipment is the pro forma invoice?

The main billing document in a shipment is the pro forma invoice? Answer: Fals...

The invoice that corresponds to an actual shipment is called the commercial invoice?

The invoice that corresponds to an actual shipment is called the commercial invoice? Answer: Tru...

A letter of credit is a separate contract from the sales contract on which it is based; therefore, the bank is not concerned whether each party ful±lls the terms of the sales contracT?

A letter of credit is a separate contract from the sales contract on which it is based; therefore, the bank is not concerned whether each party ful±lls...

"Facilitating payments for routine government action" would not be violations of the Foreign Corrupt Practices Act?

"Facilitating payments for routine government action" would not be violations of the Foreign Corrupt Practices Act? Answer: Tru...

An agreement between an exporter and an agent/distributor may state that the laws of the exporter's country apply to governing of the contract. This can be complicated by ______?

An agreement between an exporter and an agent/distributor may state that the laws of the exporter's country apply to governing of the contract. This...

A legal dispute in which the loser bears court costs is said to be operating under _____?

A legal dispute in which the loser bears court costs is said to be operating under _____? Answer: European Rule...

A contract with no determined duration and which can no longer be terminated for non-performance (since termination did not take place earlier, even though there was evidence of non-performance), is called an evergreen contract?

A contract with no determined duration and which can no longer be terminated for non-performance (since termination did not take place earlier, even...

Agents usually feel encouraged if the exporting firm they represent retains for itself a large number of corporate accounts?

Agents usually feel encouraged if the exporting firm they represent retains for itself a large number of corporate accounts? Answer: Fals...

The scope of appointment clause of a contract usually prevents an agent or distributor to "cherry pick" the most profitable products for extra selling effort and to minimize effort toward less profitable products?

The scope of appointment clause of a contract usually prevents an agent or distributor to "cherry pick" the most profitable products for extra selling...

The European Union tends not to recognize exclusive territories that limit an agent or distributor to one country?

The European Union tends not to recognize exclusive territories that limit an agent or distributor to one country? Answer: Tru...

The scope of appointment clause is usually the first clause of a contract?

The scope of appointment clause is usually the first clause of a contract? Answer: Tru...

Contracts normally contain a clause that annuls the contract in the event of an overwhelming unforeseen event like a major storm or fire. This is called an evergreen provision?

Contracts normally contain a clause that annuls the contract in the event of an overwhelming unforeseen event like a major storm or fire. This is called...

A contract is entered in good faith when neither of the parties has any other ulterior motive about the agreement?

A contract is entered in good faith when neither of the parties has any other ulterior motive about the agreement? Answer: Tru...

Normally, contracts between parties who speak different languages from each other can be written in both or all of their languages, and the contracts will have equal weight?

Normally, contracts between parties who speak different languages from each other can be written in both or all of their languages, and the contracts...

In most Middle Eastern countries, agents and distributors are not required to be nationals of the country?

In most Middle Eastern countries, agents and distributors are not required to be nationals of the country? Answer: Fals...

Agreements between an exporter and an agent and agreements between an exporter and a distributor are called distribution contracts?

Agreements between an exporter and an agent and agreements between an exporter and a distributor are called distribution contracts? Answer: ...

An agent can negotiate prices, delivery, or other sales terms with the buyer (importer) without direction from the exporter?

An agent can negotiate prices, delivery, or other sales terms with the buyer (importer) without direction from the exporter? Answer: Fals...

The "perfect tender" principle means delivered goods must exactly conform to the goods contracted and delivered within the framework specified in the contract?

The "perfect tender" principle means delivered goods must exactly conform to the goods contracted and delivered within the framework specified in the...

Under the Uniform Commercial Code, an offer can be withdrawn at any time, without prejudice?

Under the Uniform Commercial Code, an offer can be withdrawn at any time, without prejudice? Answer: Tru...

Under the Uniform Commercial Code (UCC), when a buyer agrees to an offer made by a seller, but indicates a desire for a different schedule of delivery or term of payment, such a response is considered to be a rejection of the offer?

Under the Uniform Commercial Code (UCC), when a buyer agrees to an offer made by a seller, but indicates a desire for a different schedule of delivery...

Whether or not a sales contract is international is always self-evident?

Whether or not a sales contract is international is always self-evident? Answer: Fals...

Whenever a contract is established between two parties in the same country, the law governing the execution of this contract is determined by that country's legal system?

Whenever a contract is established between two parties in the same country, the law governing the execution of this contract is determined by that country's...

The commission earned by the bank for accepting a draft is reflected in the all-in-rate?

The commission earned by the bank for accepting a draft is reflected in the all-in-rate? Answer: Tru...

There is an active secondary market for banker's acceptances?

There is an active secondary market for banker's acceptances? Answer: Tru...

As of the revision in 2000, the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is?

As of the revision in 2000, the only Incoterm which requires the importer to clear the merchandise for export from the country from which it is coming...

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter. This receipt can be?

The document that corresponds clearly to the transfer of responsibility for a Free Carrier shipment is the receipt given by the carrier to the exporter....

The Incoterm EXW specifies what regarding delivery?

The Incoterm EXW specifies what regarding delivery? a. the mode of transportation for delivery b. who pays for delivery c.. who buys insurance for...

Under the Incoterm FOB, responsibility for the cargo?

Under the Incoterm FOB, responsibility for the cargo? Answer: shifts from exporter to importer at the ship's rail...

The importer's bank is called the ___?

The importer's bank is called the ___? Answer: issuing bank...

Incoterms determine?

Incoterms determine? Answer: which tasks will be performed by the exporte...

Electronic Data Interchange (EDI) has changed what issue in Incoterms?

Electronic Data Interchange (EDI) has changed what issue in Incoterms? Answer: documentation of deliver...

FOB is

FOB is  a. Free On Board. b. an Incoterm that can be used for any merchandise. c. an Incoterm specifically designed for ocean transportation d....

The Incoterm FCA means?

The Incoterm FCA means? Answer: Free Carrier...

International factoring ___.?

International factoring ___.? a. is more complicated than domestic factoring b. can be used to extend credit beyond what the exporter can normally...

An exporter can conduct its international business in a manner similar to the way it and most companies conduct domestic business by using ___?

An exporter can conduct its international business in a manner similar to the way it and most companies conduct domestic business by using ___? Answer: an...

International commercial risk can be evaluated by ___.?

International commercial risk can be evaluated by ___.? a. credit report companies b. factoring houses c. some accounting firms, insurance companies,...

The risk(s) that an exporter takes in requesting cash in advance as a means of payment is/are ___?

The risk(s) that an exporter takes in requesting cash in advance as a means of payment is/are ___? Answer: it puts the exporter at a competitive...

Among other reasons, international transactions are perceived to have more risk of non-payment because of ___?

Among other reasons, international transactions are perceived to have more risk of non-payment because of ___? a. a lack of credit information b....

Which of the following pieces of information does an international commercial invoice contain?

Which of the following pieces of information does an international commercial invoice contain?  a. Incoterms b. a precise description of the...

A product not on the Commerce Control List, or whose Export Control Classification Number does not call for an export license, is classified as ?

A product not on the Commerce Control List, or whose Export Control Classification Number does not call for an export license, is classified as ? a....

In 1996, the _____ was revised to a U.S. export policy stating that "everything is authorized unless it is specifically prohibited?"

In 1996, the _____ was revised to a U.S. export policy stating that "everything is authorized unless it is specifically prohibited?" Answer: ...

The United States export policy is mostly concerned about?

The United States export policy is mostly concerned about? Answer: keeping some military technologies away from some countries...

A government will use a(n) _____ to attempt to control the export of national treasures or antiques?

A government will use a(n) _____ to attempt to control the export of national treasures or antiques? Answer: Export licens...

The commercial invoice ?

The commercial invoice ? a. is sent ahead of the shipment. b. is the same thing as a letter of credit. c.replaces the need for an export license d....

From a bank's viewpoint, issuing a letter of credit is analogous to making a loan as far as risk is concerned?

From a bank's viewpoint, issuing a letter of credit is analogous to making a loan as far as risk is concerned? Answer: Tru...

When using factoring to finance international trade, a bank will provide a loan to the exporter secured by an assignment of the account receivable?

When using factoring to finance international trade, a bank will provide a loan to the exporter secured by an assignment of the account receivable?...

In an open account transaction, the exporter ships the goods to the importer but retains title to the goods until they have been sold?

In an open account transaction, the exporter ships the goods to the importer but retains title to the goods until they have been sold? Answer:&nb...

Under a letter of credit, the exporter will not ship the goods until the buyer has remitted payment to the exporter?

Under a letter of credit, the exporter will not ship the goods until the buyer has remitted payment to the exporter? Answer: Fals...

The ______________ is a self-sustaining federal agency responsible for insuring direct U.S. investments in foreign countries against the risk of currency inconvertibility, expropriation, and other political risk?

The ______________ is a self-sustaining federal agency responsible for insuring direct U.S. investments in foreign countries against the risk of currency...

The Working Capital Guarantee Program and the Medium-term Guarantee Program are offered by the?

The Working Capital Guarantee Program and the Medium-term Guarantee Program are offered by the? Answer: Export-Import Bank of the United Sta...

The term counterpurchase denotes the exchange of goods between two parties under two distinct contracts expressed in monetary terms?

The term counterpurchase denotes the exchange of goods between two parties under two distinct contracts expressed in monetary terms? Answer: ...

___________ refers to the purchase of financial obligations, such as bills of exchange or promissory notes, without recourse to the original holder, usually the exporter?

___________ refers to the purchase of financial obligations, such as bills of exchange or promissory notes, without recourse to the original holder,...