LSU ISDS 3115: exam 1 Questions With Complete Solutions
______________ is used to rank a company's products to
determine which products represent the best use of the firm's
resources, or, perhaps, to determine which products are to be
eliminated.
a. Value analysis
b. Value engineering
c. Financial analysis
d. Product-by-value analysis
e. Product cost justification Correct Answers d. Product-by-
value analysis
A business's stakeholders, whose conflicting perspectives cause
ethical and social dilemmas, include
a. lenders
b. suppliers
c. owners
d. employees
e. all of the above Correct Answers e. all of the above
A code of ethics especially for project managers
a. has been established by the Project Management Institute
b. has been formulated by the Federal government
c. has been formulated by the World Trade Organization
d. is inappropriate, since everyone should use the same
guidance on ethical issues
e. does not exist at this time Correct Answers a. has been
established by the Project Management Institute
,A contractor's project being analyzed by PERT has an estimated
time for the critical path of 120 days. The sum of all activity
variances is 81; the sum of variances along the critical path is
64. The probability that the project will take 130 or more days to
complete is
a. 0.1056
b. 0.1335
c. 0.8512
d. 0.8943
e. 1.29 Correct Answers a. 0.1056
A firm can effectively use its operations function to yield
competitive advantage via all of the
following except
a. customization of the product
b. setting equipment utilization goals below the industry
average
c. speed of delivery
d. constant innovation of new products
e. maintain a variety of product options Correct Answers b.
setting equipment utilization goals below the industry average
A forecast based on the previous forecast plus a percentage of
the forecast error is a(n)
a. qualitative forecast
b. naive forecast
c. moving average forecast
d. weighted moving average forecast
e. exponentially smoothed forecast Correct Answers e.
exponentially smoothed forecast
,A forecast with a time horizon of about 3 months to 3 years is
typically called a
a. long-range forecast
b. medium-range forecast
c. short-range forecast
d. weather forecast
e. strategic forecast Correct Answers b. medium-range forecast
A foundry produces circular utility access hatches (manhole
covers). Currently, 120 covers are produced in a 10-hour shift. If
labor productivity can be increased by 20%, it would then be
a. 14.4 covers/hr
b. 24 covers/hr
c. 240 valves/hr
d. 1200 covers/hr
e. none of the above Correct Answers a. 14.4 covers/hr
A foundry produces circular utility access hatches (manhole
covers). If 120 covers are produced in
a 10-hour shift, the productivity of the line is
a. 1.2 covers/hr
b. 2 covers/hr
c. 12 covers/hr
d. 1200 covers/hr
e. none of the above Correct Answers c. 12 covers/hr
A fundamental distinction between trend projection and linear
regression is that
a. trend projection uses least squares while linear regression
does not
b. only linear regression can have a negative slope
, c. in trend projection the independent variable is time; in linear
regression the independent variable need not be time, but can be
any variable with explanatory power
d. linear regression tends to work better on data that lack trends
e. trend projection uses two smoothing constants, not just one
Correct Answers c. in trend projection the independent variable
is time; in linear regression the independent variable need not be
time, but can be any variable with explanatory power
A graphic technique for defining the relationship between
customer desires and product/service is
a. Product Lifecycle Management
b. the House of Quality
c. the moment of truth
d. the assembly drawing
e. the product development team Correct Answers b. the
House of Quality
A local project being analyzed by PERT has 42 activities, 13 of
which are on the critical path. If the estimated time along the
critical path is 105 days with a project variance of 25, the
probability that the project will be completed in 95 days or less
is
a. -0.4
b. 0.0228
c. 0.3444
d. 0.9772
e. 4.2 Correct Answers b. 0.0228
A network has been crashed to the point where all activities are
critical. Additional crashing
______________ is used to rank a company's products to
determine which products represent the best use of the firm's
resources, or, perhaps, to determine which products are to be
eliminated.
a. Value analysis
b. Value engineering
c. Financial analysis
d. Product-by-value analysis
e. Product cost justification Correct Answers d. Product-by-
value analysis
A business's stakeholders, whose conflicting perspectives cause
ethical and social dilemmas, include
a. lenders
b. suppliers
c. owners
d. employees
e. all of the above Correct Answers e. all of the above
A code of ethics especially for project managers
a. has been established by the Project Management Institute
b. has been formulated by the Federal government
c. has been formulated by the World Trade Organization
d. is inappropriate, since everyone should use the same
guidance on ethical issues
e. does not exist at this time Correct Answers a. has been
established by the Project Management Institute
,A contractor's project being analyzed by PERT has an estimated
time for the critical path of 120 days. The sum of all activity
variances is 81; the sum of variances along the critical path is
64. The probability that the project will take 130 or more days to
complete is
a. 0.1056
b. 0.1335
c. 0.8512
d. 0.8943
e. 1.29 Correct Answers a. 0.1056
A firm can effectively use its operations function to yield
competitive advantage via all of the
following except
a. customization of the product
b. setting equipment utilization goals below the industry
average
c. speed of delivery
d. constant innovation of new products
e. maintain a variety of product options Correct Answers b.
setting equipment utilization goals below the industry average
A forecast based on the previous forecast plus a percentage of
the forecast error is a(n)
a. qualitative forecast
b. naive forecast
c. moving average forecast
d. weighted moving average forecast
e. exponentially smoothed forecast Correct Answers e.
exponentially smoothed forecast
,A forecast with a time horizon of about 3 months to 3 years is
typically called a
a. long-range forecast
b. medium-range forecast
c. short-range forecast
d. weather forecast
e. strategic forecast Correct Answers b. medium-range forecast
A foundry produces circular utility access hatches (manhole
covers). Currently, 120 covers are produced in a 10-hour shift. If
labor productivity can be increased by 20%, it would then be
a. 14.4 covers/hr
b. 24 covers/hr
c. 240 valves/hr
d. 1200 covers/hr
e. none of the above Correct Answers a. 14.4 covers/hr
A foundry produces circular utility access hatches (manhole
covers). If 120 covers are produced in
a 10-hour shift, the productivity of the line is
a. 1.2 covers/hr
b. 2 covers/hr
c. 12 covers/hr
d. 1200 covers/hr
e. none of the above Correct Answers c. 12 covers/hr
A fundamental distinction between trend projection and linear
regression is that
a. trend projection uses least squares while linear regression
does not
b. only linear regression can have a negative slope
, c. in trend projection the independent variable is time; in linear
regression the independent variable need not be time, but can be
any variable with explanatory power
d. linear regression tends to work better on data that lack trends
e. trend projection uses two smoothing constants, not just one
Correct Answers c. in trend projection the independent variable
is time; in linear regression the independent variable need not be
time, but can be any variable with explanatory power
A graphic technique for defining the relationship between
customer desires and product/service is
a. Product Lifecycle Management
b. the House of Quality
c. the moment of truth
d. the assembly drawing
e. the product development team Correct Answers b. the
House of Quality
A local project being analyzed by PERT has 42 activities, 13 of
which are on the critical path. If the estimated time along the
critical path is 105 days with a project variance of 25, the
probability that the project will be completed in 95 days or less
is
a. -0.4
b. 0.0228
c. 0.3444
d. 0.9772
e. 4.2 Correct Answers b. 0.0228
A network has been crashed to the point where all activities are
critical. Additional crashing
