MSIS 3223 EXAM QUESTIONS WITH CORRECT ANSWERS
LATEST UPDATE
Stopwatch Time Study
development of a time standard based on the observation of one worker taken over a
number of cycles, then applied to all others doing the same task
Work Sampling
technique for estimating the proportion of time that the worker or machine spends on
various activities and the idol time.
Random
Natural variation in the output of a process due to minor issues
Non-random
causes can be identified (assignable variation)
Attribute
data that are discrete ex. yes/no, high/low. Something that can be true or false
Variable
data that are measured and continuous with varying degrees ex. weight
inspection
physical examination of some goods as they go through the process
Run Tests
a test for patterns in a sequence
Run
sequence of observations with a certain characteristic
Up and Down Runs
the preceding value
Above and Below
The median and mean are approximately equal for control charts
Grand mean
Mean of all the means
Grand range
mean of all the ranges
Sigma Limit
z score
EOQ
the amount of a particular item to order to minimize carry costs and ordering costs
Service level
probability that we won't run out
Re-order point
what quantity or level to order (not when)
Goal of re-order point
order a level that can handle the demand and/or fluctuations
Fixed-Interval Ordering
Want to fix the time we will order goods
How many orders will be made each year?
LATEST UPDATE
Stopwatch Time Study
development of a time standard based on the observation of one worker taken over a
number of cycles, then applied to all others doing the same task
Work Sampling
technique for estimating the proportion of time that the worker or machine spends on
various activities and the idol time.
Random
Natural variation in the output of a process due to minor issues
Non-random
causes can be identified (assignable variation)
Attribute
data that are discrete ex. yes/no, high/low. Something that can be true or false
Variable
data that are measured and continuous with varying degrees ex. weight
inspection
physical examination of some goods as they go through the process
Run Tests
a test for patterns in a sequence
Run
sequence of observations with a certain characteristic
Up and Down Runs
the preceding value
Above and Below
The median and mean are approximately equal for control charts
Grand mean
Mean of all the means
Grand range
mean of all the ranges
Sigma Limit
z score
EOQ
the amount of a particular item to order to minimize carry costs and ordering costs
Service level
probability that we won't run out
Re-order point
what quantity or level to order (not when)
Goal of re-order point
order a level that can handle the demand and/or fluctuations
Fixed-Interval Ordering
Want to fix the time we will order goods
How many orders will be made each year?
