A local dairy that produces organic milk, yogurt, butter, and ice cream has asked you to provide a tool for its managers to promote operating excellence in performing value chain activities. Which tools and methods would you NOT recommend to the owners of the local dairy?
A. Utilize benchmarking.
B. Adapt best practices.
C. Undertake business process reengineering.
D. Install TQM and/or Six Sigma quality control techniques.
E. Adopt standard industry techniques.
Answer: E
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Indicate whether the statement is true or false
A survey of business students who had taken the Graduate Management Admission Test (GMAT) indicated that students who have spent at least five hours studying GMAT review guides have a probability of 0.85 of scoring above 400. Students who do not review have a probability of 0.65 of scoring above 400. It has been determined that 70% of the business students review for the test. a.Find the probability of scoring above 400.b.Find the probability that a student who scored above 400 reviewed for the test.
What will be an ideal response?
Masterson Company's budgeted production calls for 56,000 units in April and 52,000 units in May of a key raw material that costs $1.85 per unit. Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this material is 16,800 unit. What is the budgeted materials needed in units for April?
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