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BUS 515 Final Exam Part 1 and 2

A combined final exam assessing business strategy and management practices.

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BUS 515 FINAL EXAM PART 1& 2PART 1Chapter 6Multiple Choice Question 19What measures the central tendency of a set of data?Coefficient of variationVarianceStandard deviationMeanRangeMultiple Choice Question 39Consider a p-chartmeasuring the percentage of defective light bulbs. If the LCL is .04 and a sample has 1% defects, what is theimplication?The process is in a state of control.The process is out of control even though the variation is “good.”The value of sigma must be increased.The process has too many errors.A calculation error must have occurredMultiple Choice Question 16An OC curve is an example of what?Traditional statistical toolsFishbone diagrammingAcceptance samplingExperimental designStatistical process controlMultiple Choice Question 25On a control chart, what separates common from assignable causes of variation?x-bar linesControl limitsSpecification limitsProduction limitsMean divided by standard deviationMultiple Choice Question 41What are preset ranges of acceptable quality characteristics?Control limitsProduct specificationsSix-sigma limitsAQC limitsR-chart limitsChapter 7

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Multiple Choice Question 26According to JIT, __________ is carried to cover up a widevariety of problems, such as poor quality, demand uncertainty, andslow delivery.InventoryExcess capacityA group of back-up workersSpare equipmentInsuranceMultiple Choice Question 65Which of the following isnota role of JIT management?creating a JIT culturecost and information sharingserving as coaches and facilitatorsdeveloping an incentive systemensuring multifunctional training occursMultiple Choice Question 36JIT uses a pull system where communication starts with either thecustomer or with the _________ work station in the productionline.FirstBottleneckDominantMost expensiveLastMultiple Choice Question 61JIT production workers are expected toCover up quality problemsIgnore dataTake responsibility in getting to the root cause of quality problemsBlame problems on someone elseHave a poor attitude about qualityMultiple Choice Question 70The benefits of long-term relationships with a small number of suppliers include all of the followingexceptAlwaysgetting the lowest priceFocus on improving process controlsGreater accountabilityDevelop stable delivery schedulesEliminate paperworkChapter 8Multiple Choice Question 1Forecasting isnota function which contributes to:deciding which business market to pursue

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deciding which product to producedeciding how bonuses should be allocateddeciding how much inventory to carrydeciding how many people to hireMultiple Choice Question 10Which forecasting method is particularly good for predicting technological changes and scientific advances?Market researchExecutive opinionDelphi methodNaïve methodGamma methodMultiple Choice Question 30What are the most frequently used forecasting techniques?Linear regressionSimple meanExponentialsmoothingWeighted moving averageEconometric modelsMultiple Choice Question 17Which of the following is a causal forecasting method?NaïveMoving averageWeighted moving averageTrend adjusted exponential smoothingLinear regressionMultiple Choice Question 74“Inside information” ismostlikely garnered through which of the following forecasting methods?exponential smoothingseasonal indexesnaïveDelphimultiple regressionChapter 9Multiple Choice Question 56The least likely reason for a U.S.firm to choose to locate a factory in a foreign country is _____________.climateNatural resourcesmarketscheaper supplierslow labor costsMultiple Choice Question 55
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Document Details

University
University of Phoenix
Course
BUS 515
Subject
Business Management

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