2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ Sales revenue model.
Answer: a company derives revenue by selling goods, information, or
services
◍ Efficiency equation.
Answer: actual output/standard output
◍ uniform.
Answer: distribution that is approximately flat, with no modes, in which the
observations are roughly equally (or uniformly) distributed among the
different values
◍ fair.
Answer: a description of an activity that has an expected value of 0.
◍ Confounding Variable.
Answer: A variable that is not accounted for, but that may influence the
relationship being studied because it is associated with both the explanatory
and response variable.
◍ Capacity Requirements Planning (CRP).
Answer: Uses data from MRP to calculate workload for critical work centers
◍ Independently owned net marketplaces having catalogs representing
thousands of suppliers and designed for spot purchases..
Answer: E-distributors
◍ Sampling Frame.
Answer: List of potential individuals to be sampled
,◍ sample space.
Answer: the list of ALL possible outcomes
◍ Vertical Integration.
Answer: Practice where a single entity controls the entire process of a
product, from the raw materials to distribution
◍ Experiment.
Answer: Researchers intentionally manipulate one or more variables (the
explanatory variables) to observe their effect on another variable (the
response variable). Participants are randomly assigned to different groups,
with each group receiving a different treatment or level of the explanatory
variable.
◍ intersection.
Answer: the set of all outcomes that are in both events simultaneously
◍ Mistake-proofing methods aimed at designing fail-safe systems that
minimize human error.
Answer: Poka-yoke
◍ probability.
Answer: mathematical value of the likelihood of an event
◍ Representative Sample.
Answer: Also known as an unbiased sample, is a subset of the population
that accurately reflects the characteristics of the larger group
◍ Flowchart.
Answer: A diagram that shows step-by-step progression through a procedure
or system especially using connecting lines and a set of conventional
symbols.
◍ Pareto Analysis.
Answer: technique for classifying problem areas according to degree of
importance, and focusing on the most important
◍ way of defining quality, focuses on judgement of what constitutes product
, or service excellence..
Answer: Psychological criteria
◍ Malcom Baldrige National Quality Award.
Answer: an award given by the President of the United States to
organizations judged to be outstanding in specific managerial tasks that lead
to improved quality for both products and services
◍ scatterplot.
Answer: appropriate graph to represent a Q→Q (Quantitative to
Quantitative) role-type classification
◍ ISO 9000.
Answer: the common name given to quality management and assurance
standards
◍ training that requires an individual to learn several different jobs in a work
unit or department and perform each job for a specified time period.
Answer: Job rotation (cross training)
◍ Method used to calculate the production capacity availability. Need to look
at how much capacity is available. Uses planned order release from the
MRP output to calculate the workload..
Answer: capacity requirements planning (CRP)
◍ Industry Consortia.
Answer: Industry-owned markets that enable buyers to purchase direct
inputs from a limited set of invited suppliers.
◍ product layout.
Answer: Layout that uses standardized processing operations to achieve
smooth, rapid, high-volume flow
◍ Misrepresenting Data.
Answer: Presenting data in a way which is likely to mislead those viewing it
or cause them to draw incorrect conclusions.
◍ Point of Departure (POD).