Risk avoidance is the best risk management tool when the change of loss is ________ and the potential severity of loss is ________
A) low, low
B) high, high
C) low, high
D) high, low
B
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In a department store project, numbers 1 through 10 were assigned to the 10 stores considered in the study. Suppose, store number 9 referred to Sears and store number 6 referred to Neiman Marcus
Using this information, which of the following statements is true? A) Sears is in some way superior or inferior to Neiman Marcus. B) It is meaningful to state that the number of the average store is 5.5. C) Both A and B are true. D) None of the above statements are true.
Price is not:
A) the revenue per unit. B) greater than cost in order for the firm to earn income. C) the same as cost. D) the same as cost per unit plus the income per unit.
An approach to reducing the effect of nervousness in an MRP system is to use ______.
A. performance of reports B. immediate feedback C. scheduled planned orders D. firm planned orders
Which choice best describes level scheduling?
A) Daily production is variable from period to period. B) Subcontracting, hiring, and layoffs manipulate supply. C) Price points are calculated to match demand to capacity. D) Inventory goes up or down to buffer the difference between demand and production. E) Overtime is used to handle seasonal demand fluctuations.