Business - Decision Science

In the service-system design matrix, a mail contact service encounter is expected to have which of the following?

A histogram of data that resembles the normal distribution indicates that the process is in control

A large organization might employ dozens of network administrators.

For true collaboration there must be awareness and support on the part of management-not just in words, but also by example.

5

How does product design affect forecasting accuracy?

6

To retrieve data from more than one table, you must ____________________ the tables together by finding rows in the two tables that have identical values in matching columns

7

Which of the following market conditions is best suited by a product innovator strategy?

8

A(n) _____ must ensure that the Web pages on a site are visually appealing or easy to use

9

In _____, one party (usually the buyer) gets a lower price as the parties work jointly to reduce the seller's costs or the joint transaction costs of doing business together

10

A model with a positive mean forecast error suggests that, on average, the model underforecasts

11

A company wants to forecast demand using the weighted moving average. If the company uses two prior yearly sales values (i.e., year 2012 = 110 and year 2013 = 130), and we want to weight year 2012 at 10 percent and year 2013 at 90 percent, which of the following is the weighted moving average forecast for year 2014?

12

In forecasting, the term 'cycle' refers to repetition of data ________.

13

Aggregate planning:

14

A company using portfolio analysis decides to form partnerships with suppliers; the products in question probably fall in the ________ quadrant

15

Any changes to a database's structure, such as adding a field, deleting a field, changing a field's size, or changing the data type stored in a field, are made with the data manipulation component

16

Compare the shadow price to the dual price

17

The trade-off between the amount of control needed and the amount of__________needed, which are the two dimensions of a global information system (GIS), defines an organization's globalization strategy

18

One form of strategic alliance is the ________, in which two firms agree to cooperate to produce a product or service together

19

In recent surveys, about 32 percent of all Americans said they were dissatisfied with the quality of health care.

20

The group that provides direction for the configuration of the new system in the existing computing environment are called _______

21

An organization's structure usually determines the architecture of its global information system (GIS)

22

The capability to resist and recover from supply chain disruptions is:

23

According to Table 8-7, which describes an investment problem, suppose that Ivana has decided that the amount invested in stocks cannot exceed one-fourth of the total amount invested. Which is the best way to write this constraint?

24

Based on a study of successful American project managers as perceived by project team members, the most important characteristic of a project manager is:

25

People who forgo a high expected value to avoid a disaster with a low probability are:

26

Assume that the reduced cost of a decision variable is -$20 for a maximization problem. This implies that:

27

Which of the following would best represent direct project costs?

28

The time-phased plan specifying how many and when the firm plans to build each end item is called the master production schedule (MPS).

29

It is best for firms to learn through their own experiences the methods and tools that work the best, rather than benchmarking.

30

What is derived demand and what implications does it have for logistics systems?

Derived demand is created as managers conceptualize forecasts and guess at future demand; it only exists on paper. Derived demand is a major management issue and one that every logistician must understand.
When derived demand is introduced into logistics systems, the system capacity must expand to meet the imaginary needs of this demand, driving up costs and distorting the tradeoffs between inventory, transportation, warehousing, and infrastructure. The goal of the logistician then is to remove as much derived demand as possible so as to plan for the integration of the logistical system. One way to reduce derived demand is to share actual demand data, rather than forecasts, with everyone in the supply chain. Walmart has gone to the point of sharing cash register point-of-sale data with suppliers to ensure that they are receiving accurate demand. In addition, managers can be proactive by using statistical process control charts and other tools to make sure that inventory systems are not out of control. In short, managers must be aware of the importance of managing demand.
A second way that derived demand can be reduced is through reducing reliance on promotions and sales. Promotions and sales are effective marketing strategies that artificially raise demand, but the artificial spikes in demand that result ripple through the logistics systems. Logistics systems work best when demand is stable and predictable; promotions and sales create instability. Part of Walmart's logistics strategy has been to promote everyday low prices rather than sales. This strategy provides the system with the steady, stable demand needed to put consistent logistics systems in place.

31

The smoothing constants in exponential smoothing models are effectively a way to assign different weights to past levels, trends and cycles in the data

32

If a column named SAL_PCT is to be defined to ensure a value of 100 is input if a NULL value is provided when a new row is inserted, which column definition should be used? a. SAL_PCT NULL 100 DEFAULT

33

A high level of product availability requires ________, which raises supply chain costs

34

Using the fixed-order-quantity model, what is the total ordering cost of inventory given an annual demand of 36,000 units, a cost per order of $40, and a holding cost per unit per year of $45?

35

Which of the following is used to organize and summarize ideas or issues generated by team members?

36

General management consulting often recommends changes in attitudes and culture, which are relatively easy for the client to attain.

37

The use of techniques to forecast how things will be in the future based on past patterns of data is called ________

38

A company manufactures specialty pollution-sensing devices for the offshore oil industry. One particular device has reached maturity, and the company is considering whether to replace it with a newer model

in Business

Technologies have not changed dramatically, so the new device would have similar functionality to the existing one, but would be smaller and lighter in weight. The firm's three choices are: 1. keep the old model, 2. design a replacement device with internal resources, 3 . and purchase a new design from a firm that is one of its suppliers. The market for these devices will be either "receptive" or "neutral" of the replacement model. The financial estimates are as follows: Keeping the old design will yield a profit of $6 million dollars. Designing the replacement internally will yield $10 million if the market is "receptive," but a $3 million loss if the market is "neutral." Acquiring the new design from the supplier will profit $4 million under "receptive," $1 million under "neutral." The company feels that the market has a 70 percent chance of being "receptive" and a 30 percent chance of being "neutral." Draw the appropriate decision tree. Calculate expected value for all courses of action. What action yields the highest expected value?

39

GANTT refers to the Generalized Activity Network Tracking Technique which was developed to better understand how variability in the duration of individual activities impacts the expected project duration

40

As the number of people involved in a project _____, the complexity of communications _____

41

_____ describes the process of deciding where to locate data

42

The goal of the SarbanesOxley Act was to renew investor's trust in corporate executives and their firm's financial reports following numerous financial scandals in the early 2000s

43

The flow of work through a hospital is sometimes referred to as a care chain.

44

What is the average number of customers waiting in each line and being checked out?

45

The final step in defining a project is ________ the WBS for the information system.

46

In Oracle, the data type STRING(n) stores a character string n characters long

47

Refer to the table. What is the average number of customers in the queue plus the number being served?

48

Multiple regression is used when the forecaster believes that more than one independent variable should be used to predict the variable of interest

49

Design of experiments is a statistical methodology often used in Six-Sigma projects. It aims to accomplish which of the following?

50

Which of the following could cause a firm to initiate changes in a product’s value proposition?

51

Project governance means applying a set of knowledge, skills, tools, and techniques to a collection of projects in order to move the organization toward its strategic goals.

52

An advantage of a production line process is

53

A _____ plan lists the tasks that must be performed to restore damaged data and equipment

54

When determining resource availability, project managers need only consider full-time, internal resources

55

A posterior probability is a revised probability

56

Assume there are five jobs (i.e., A, B, C, D, and E) that need to be sequenced in a production schedule. The remaining operating time necessary for completion of job A is 3 days (i.e., job A will take 3 more days to complete), B will take 9 days, C will take 6 days, D will take 5 days and E will take 8 days. In what order will these jobs be scheduled if using the SOT priority rule for job sequencing?

57

Normalization represents a micro view of the entities within the ERD

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Business - Decision Science

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