Assembly line balancing has just been used to solve a product layout problem. Two solutions look especially attractive to the plant managers. Both solutions make the same output per day, and both have the same number of workstations
The managers were going to break the tie by looking at line efficiency, but discovered that both lines had the same efficiency as well. Should they have been surprised at this? Explain.
No, they should not be surprised. Efficiency is the ratio of actual work needed per unit to time available. Work needed is clearly the same in both cases as the product is the same. Work available is also the same, since both lines have the same number of stations and the same maximum assigned cycle time (which determines daily output). Once cycle time and number of stations are known, so is efficiency, no matter what tasks are assigned to what stations within that framework.
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The irrational escalation of commitment is a cognitive bias that refers to
A. the perspective or point of view that people use when they gather information and solve problems. B. the standard against which subsequent adjustments are measured during negotiation. C. how easily information can be recalled and used to inform or evaluate a process of a decision. D. a negotiator's commitment to a course of action, even when that commitment constitutes irrational behavior on his/her part.
In vertical integration, control is expanded to two or more successive links of production or distribution.
Answer the following statement true (T) or false (F)
Uniqueness ensures that no equal time stamp values can exist, and _____ ensures that time stamp values always increase
Fill in the blank(s) with correct word
In Microsoft Excel, the chart that is used to plot prices of shares, such as the daily high, low, and close, is a ________
A) surface chart B) doughnut chart C) bubble chart D) stock chart